Carry forward of unabsorbed depreciation as per section 32(2) is automatic

Carry forward of unabsorbed depreciation, as per s 32(2), is automatic and the assessee not required to fulfill any condition so as to be entitled to obtain such carry forward ACIT Vs Mehsana District Co-op Milk Producers Union Ltd (Ahemdabad ITAT)- Once the depreciation allowable under s 32(1) cannot be allowed or partly allowed, the unabsorbed portion of such depreciation automatically becomes the depreciation of the subsequent year, subject to the provisions of s 72(2) and 73(3. The carry forward of unabsorbed depreciation, as per s 32(2), is automatic and the assessee is not required to fu...