[aaykarbhavan] Prior to 1-4-2002, current year’s depreciation needed not to be claimed before setting off unabsorbed losses

Prior to 1-4-2002, current year's depreciation needed not to be claimed before setting off unabsorbed losses

August 1, 2014[2014] 46 taxmann.com 419 (Gujarat)

IT : Prior to amendment made prospectively by Explanation 5 to section 32(1) with effect from 1-4-2002 there was no requirement of claiming current year depreciation compulsorily before setting off of past losses arose

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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