Unabsorbed business/depreciation loss - carried forward and set ...

Finance Act 2001: Unabsorbed business and depreciation losses can now be carried forward indefinitely, removing the 8-year limit.

February 14, 2020

Case Laws Income Tax AT

Unabsorbed business/depreciation loss - carried forward and set off - the legislature has resorted to original provisions by amendment brought in by Finance Act 2001, thereby resorting to old position, which allows set off of unabsorbed depreciation and restrictive period of 8 years for claiming set off has been deleted, thereby extending the benefit against profit and gains of subsequent years without any bar.

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Unabsorbed business/depreciation loss - carried forward and set ...

Finance Act 2001: Unabsorbed business and depreciation losses can now be carried forward indefinitely, removing the 8-year limit.

February 14, 2020

Case Laws Income Tax AT

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