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Unabsorbed depreciation to be set-off with income from other sources even if business losses not yet exhausted
Case Law Details
- Case Name
- Commissioner of Income-tax Vs SPEL Semi Conductor Ltd. (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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HIGH COURT OF MADRAS
Commissioner of Income-tax
Versus
SPEL Semi Conductor Ltd.
TAX CASE (APPEAL) NO. 2490 OF 2006
OCTOBER 10, 2012
JUDGMENT
Chitra Venkataraman, J.
The Revenue is on appeal as against the order of the Income Tax Appellate Tribunal relating to assessment year 1998-99. The above Tax Case (Appeal) was admitted on the following questions of law:-
“1. Whether on the facts and circumstances of the case, the Tribunal was right in directing the Assessing Officer to recompute the income after allowing set off of unabsorbed depreciation from income from other sources, especially...
