Set off of unabsorbed depreciation
This query is : Open
07 September 2010
whether CIT can reopen A.Y. 2005-06 where assessee claimed brought forward dep. allowance of A.Y. 92-93 and 93-94.
what is exact status of Period of limitation? FRom which year the unabsorbed dep can be acrried to subsequent 7 years?
what is exact status of Period of limitation? FRom which year the unabsorbed dep can be acrried to subsequent 7 years?
CA. Bikash Bogi
(Expert)
12 September 2010
Dear jayant
Claim of brought forward depreciation can be claimed in the indefinite period. there is no time limitation for claiming the same. Period of limitation is only for business or other losses to be carried forward
Claim of brought forward depreciation can be claimed in the indefinite period. there is no time limitation for claiming the same. Period of limitation is only for business or other losses to be carried forward
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