1994 (12) TMI 34 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee regarding the carry forward of losses and unabsorbed depreciation to future years. The decision was based on previous court rulings and the provisions of the Income-tax Act, 1961. The Tribunal's decision to allow the carry forward was upheld. The judgment was delivered by Judges Thanikkachalam and Raju. The citation for the case is 1994 (12) TMI 34 - MADRAS High Court.