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Carry forward of Unabsorbed Depreciation without filing Ret.

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Querist : Anonymous

Querist : Anonymous (Querist)

05 January 2010 A Domestic company has not filed any Return for the last many years. The company was consistently incurring losses. The loss includes Depreciation loss also.Now the company is earning profits and wants to file the return. Is it possible for the company to claim unabsorbed Depreciation of the past years for which Return was not filed.

Sudhindra

Sudhindra (Expert)
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06 January 2010 As per the provisions of the Income tax act to claim unabsorbed depreciation and or unabsorbed losses the primary condition is that return for the respective years for which the depreciaiton is unabsorbed has to be filed and that too within the due date for filing of return....

Hence in the case in question since the return is not filed for the past years no advantage can be taken of the unabsorbed depreciation.

taxindiaconnect

taxindiaconnect (Expert)
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03 May 2010 Dear Anonymous, Some time you put some interesting queries. This one is also a goo query, However, You should reveal at least your name / identity to let other feel comfotable while answring your query. In my opinion the claim of deprecation is possible.

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