Set-off of carried forward depreciation - When such claim could ...

Set-off of Carried Forward Depreciation Not Allowed if Section 32(1) Claim Wasn't Made in Relevant Year.

February 16, 2019

Case Laws Income Tax HC

Set-off of carried forward depreciation - When such claim could not have been made u/s 32(1), then there is no question of any carry forward of such depreciation for reason of the claim for depreciation having never arisen in that previous year relevant to the previous assessment year.

View Source

← Previous Next →

Set-off of carried forward depreciation - When such claim could ...

Set-off of Carried Forward Depreciation Not Allowed if Section 32(1) Claim Wasn't Made in Relevant Year.

February 16, 2019

Case Laws Income Tax HC

You may also like:

Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

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...

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...

Deduction u/s 10B - Here in the case in hand, the total income was first arrived at by the Revenue through the AO in the Assessment Order by computing the total income...

Carry forward the unabsorbed depreciation beyond eight years - The interregnum restriction of limiting the claim for an eight-year period does not take away the right of...

The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

Relief to start-ups in carrying forward and setting off of losses - Relaxation in 51% holding of shares for the purpose of carry forward of losses of eligible star-up...

Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the...

Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

Unabsorbed business/depreciation loss - carried forward and set off - the legislature has resorted to original provisions by amendment brought in by Finance Act 2001,...

Set off of loss brought forward losses - conditions of 51% shareholding - the assessee is not seeking carry forward of losses to be set off but the assessee is seeking...

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...

Depreciation to be carried forward allowed - carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever allowed - AT

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...

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...

Quick Updates: