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Tax depreciation

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(Querist)
02 October 2008 For FY 2000-01 (AY 2001-02), the carry forward of unabsorbed depreciation was restricted to 8 years. A Company X has an unabsorbed depreciation of Rs 2 cr for FY 2000-01 which is supposed to lapse in FY 2008-09.

Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?

Thanks, S S Roy
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S S Roy

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S S Roy (Querist)
02 October 2008 For FY 2000-01 (AY 2001-02), the carry forward of unabsorbed depreciation was restricted to 8 years. A Company X has an unabsorbed depreciation of Rs 2 cr for FY 2000-01 which is supposed to lapse in FY 2008-09.

Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?

Thanks, S S Roy
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CA V. Mohanakrishnan

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CA V. Mohanakrishnan (Expert)
02 October 2008 as it is understood the time exists
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S S Roy

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S S Roy (Querist)
03 October 2008 Response unclear. Please provide your comprehensive views with appropriate logical/ legal interpretation.

S S Roy
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
04 April 2012 Now this depreciation can be carried forward indefinately.
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