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unabsorbed depreciation

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21 August 2010 can we carry fwd unabsorbed dep. to set off against futre income if there is change in constitution of firm?
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CA Punit

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CA Punit (Expert)
21 August 2010 yes... there is no bar on carry forward of unabsorbed depreciation.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 August 2010 In case of change is constitution restriction to carry forward is for loss vide section 78 of the Income tax Act,1961. Therefore, I understand that, depreciation being an allowance, it can be fully carried forward with out the restriction contained in the above referred section.
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