Carry forward of unabsorbed depreciation - carried forward ...

Unabsorbed depreciation from previous years can offset current year's income, treated as current depreciation allowance.

April 25, 2016

Case Laws Income Tax AT

Carry forward of unabsorbed depreciation - carried forward unabsorbed depreciation of the earlier year has to be taken as a part of the current year’s depreciation allowance and to be set off, to the extent possible, against income of the current year - AT

View Source

← Previous Next →

Carry forward of unabsorbed depreciation - carried forward ...

Unabsorbed depreciation from previous years can offset current year's income, treated as current depreciation allowance.

April 25, 2016

Case Laws Income Tax AT

You may also like:

Once the unabsorbed carried forward depreciation has become a part of the depreciation of the current year, it is not open to the assessee to bifurcate the two again and...

Disallowance of interest and financial expenses was not justified as the appellant paid interest and financial expenses to State Bank of India, Overseas Branch,...

Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

Revision u/s 263 by CIT - Unabsorbed Depreciation or unabsorbed Business Loss - Even, assuming for a moment, the PCIT is right on his observation, but fact remains that...

Addition u/s 68 - Addition on the basis of income shown in Form No. 26AS - Mercantile system of accounting - There can be overflow of income of one preceding previous...

Period of limitation for carrying forward of Unabsorbed depreciation loss prior to assessment year - once the Circular No.14 of 2001 clarified that the restriction of 8...

MAT Computation u/s 115JB - The amount of losses incurred by the assessee for the previous year’s 2012-13 and 2011-12 should be set off against the future income in the...

Set off of Unabsorbed depreciation as on April 1, 1997 can be set off against the income from any head for the immediate assessment year following April 1, 1997...

Set-off of unabsorbed deprecation against short term capital gains - if current depreciation is deductible in the first place from the income of the business to which it...

Carry forward and set off of unabsorbed depreciation of preceding years - The purpose of legal fiction in section 32(2) is to make the unabsorbed carried forward...

As per section 72(2), unabsorbed business loss is to be first set off and thereafter unabsorbed depreciation treated as current years depreciation u/s 32(2) is to be set...

Carry forward of the depreciation loss - once the Circular No.14 of 2001 clarified that the restriction of 8 years for carry forward and set off of unabsorbed...

Claim of additional depreciation allowed where the Machines were acquired during the previous financial year but put to use during the current financial year

Set off of brought forward non speculative loss against the current years speculative income - Set off of loss from one head against income from another - there is no...

MAT computation u/s 115JB - In this case, the assessee had incurred business loss / depreciation losses as per books in the AYs 1999-00 & 2000-01 & AYs 2011-12 & 2012-13...

Quick Updates: