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Income Tax - Highlights / Catch Notes

Home Highlights November 2014 Year 2014 This

Unabsorbed depreciation is to be added to the account of ...


Unabsorbed depreciation merges with next year's allowance; can offset income from other sources under Income Tax Act, Section 71.

November 23, 2014

Case Laws     Income Tax     AT

Unabsorbed depreciation is to be added to the account of allowance of depreciation of the next year and as such merges with next year’s depreciation allowance - and further that as per the provisions of section 71 of the Act such depreciation allowance can be set off from income from other heads - AT

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