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set off or c/f & set off

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21 December 2009 unabsorbed dep i.e (loss under PGBP b/c of dep)
SEC 70-INTER SOURCE SET OFF: unabsorbed dep can be set off against any income from any source under the head PGBP
SEC 71(2A)INTER HEAD SET OFF Losses u/h pgbp cannot be set off against income U/H salaries.
my ? is since the loss u/h PGBP can't be set off against income u/h salary(71(2A)) b/c of this language in the act unabsorbed dep can't be set off against income u/h salary .
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 December 2009 Carried forward business loss cannot be set off against salary income. But carried forward depreciation is NOT BUSINESS LOSS rather it is an allowance. Hence unabsorbed depreciation can be set off against income from salary.
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