Supreme Court · 2015 INSC 423 · Decided 15 May 2015
Seshasayee Paper & Boards Limited v. Deputy Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 2015 INSC 423 · [2015] 7 S.C.R. 1054
- Case number
- CIVIL APPEAL No. 1812/2005
- Decided
- 15 May 2015
- Bench
- A.K. SIKRI, R.F. NARIMAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 32
Headnote
c Income Tax Act, 1961- s. 32- Unabsorbed Depreciation - Whether the unabsorbed depreciation should be allowed before the allowance of the unabsorbed investment allowance in computing income of the assessee for the Assessment Year 1991-1992, when assessee had not claimed the in its income-tax return though it had claimed depreciation for the current year- Held: By legal fiction unab$orbed depreciation becomes depr:eciation of the year in question and gets added to the depreciation of the current y.ear - Once the unabsorbed carried forward E depreciation
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