Rectification u/s 154 - set-off of unabsorbed depreciation ...

Rectification u/s 154: Set-Off of Unabsorbed Depreciation Allowed for Pre-2017 Assessments, Despite Section 115BBE Amendments.

September 12, 2022

Case Laws Income Tax AT

Rectification u/s 154 - set-off of unabsorbed depreciation against the income from other source in violation of Section 115BBE - amendment brought about by Finance Act, 2016 w.e.f 01.04.2017 - prior to AY 2017-18 the said set off of loss has to be allowed and so the unabsorbed depreciation. - AT

View Source

← Previous Next →

Rectification u/s 154 - set-off of unabsorbed depreciation ...

Rectification u/s 154: Set-Off of Unabsorbed Depreciation Allowed for Pre-2017 Assessments, Despite Section 115BBE Amendments.

September 12, 2022

Case Laws Income Tax AT

You may also like:

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...

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 - 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...

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...

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

The ITAT considered the issue of set off of carried forward losses against current year profit due to a change in shareholding. Section 79 application was disputed, with...

Set off of unabsorbed depreciation allowances against income under the head salary - losses under the head income from business or profession, including 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...

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...

Setting off of depreciation u/s 32(2) - unabsorbed depreciation for the block of Assessment year 1997-98 to 2001-02 which could not have been set off earlier, cannot be...

Claim of set off of unabsorbed depreciation against the rental income treated as income from other sources – discontinued activity - set off allowed - AT

Application u/s 154 moved by assessee to carry forward and set off unabsorbed depreciation and losse - DCIT recomputed and reduced the deduction u/s 80HHC - Action of...

Disallowance on account of setting of STCG against depreciation - carry forward of unabsorbed depreciation - set off allowed.

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...

Exemption u/s.10A has to be allowed without setting off brought forward unabsorbed losses or depreciation from earlier assessment year or current assessment year either...

Quick Updates: