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115JB doubt...Urgent Sir!!!

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Rajesh (Querist)
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04 October 2010 Dear Experts,
I have already posted this query before but no reply sir.. Pls. help me.
I have following doubts with respect to 115JB calculation.

For A.Y.2009-10 there is unabsorbed business loss Rs. 40 lakhs and unabsorbed depreciation loss Rs. 50 lakhs. I have to deduct only Rs. 40 lakhs for the purpose of book profit calculation. However i am eligible to carry forward Rs. 40 lakhs and Rs. 50 lakhs. My doubt is suppose again for the asst. year 2010-11 if unabsorbed business loss or unabsorbed depreciation loss whichever is less can i deduct for the purpose of calculating book profit u/s 115JB.

Require the experts help in this regard.
With regard,
Rajesh.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 October 2010 No, the reason being in the asst.year2010-11 unabsorbed loss is 0 lakh and unabsorbed depreciation is Rs.5O lakhs. Nothing can be deducted. This is as a corollary to section 115JB(3).

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