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Income Tax - Highlights / Catch Notes

Home Highlights August 2012 Year 2012 This

Carry forward of unabsorbed depreciation – The provisions of ...


Income Tax Act: Sections 80 and 139(3) Cover Business Losses, Not Unabsorbed Depreciation; See Section 32(2) for Details.

August 17, 2012

Case Laws     Income Tax     AT

Carry forward of unabsorbed depreciation – The provisions of sections 80 and 139(3) of the Act are applicable to business losses and not to unabsorbed depreciation governed by section 32(2) of the Act. - AT

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