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Brought forward unabsorbed depreciation can be set-off against income from other sources allowed
Case Law Details
- Case Name
- Petrofils Cooperative Ltd Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006-07
- Courts
- All ITAT, ITAT Ahmedabad
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Petrofils Cooperative Ltd Vs DCIT (ITAT Ahmedabad)
ITAT Ahmedabad held that the assessee is entitled to claim of unabsorbed brought-forward depreciation to be set off against income from other sources as available during the year.
Facts- It is common ground that the issues involved in all the appeals are identical relating to the denial of set off of brought forward unabsorbed depreciation of earlier orders.
It is contended that CIT(A) has erred in law and on facts as has confirmed the rejection of the claim of set off of brought forward unabsorbed depreciation of earlier year...
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