Urgent query i.r.o. unabsorbed depreciation
This query is : Resolved
CA Vaibhavi
(Querist)
06 April 2012
Our Assessee company has carried forward dep of AY 1997-98
which it has still remained unabsorbed and c/f. in AY 2007-08
The provision i.r.o. unabosrbed depreciation is
up to AY 1996-97 - Infinite
from AY 1997-98 to AY 2001-02- 8yrs
from AY 2002-03 - infinite
can the assessee company c/f dep of 1997-98 in AY 2007-08.
The issue is for unabsorb. dep. of AY 1997-98, time limit for c/f. will be infinite or 8 years.....
which it has still remained unabsorbed and c/f. in AY 2007-08
The provision i.r.o. unabosrbed depreciation is
up to AY 1996-97 - Infinite
from AY 1997-98 to AY 2001-02- 8yrs
from AY 2002-03 - infinite
can the assessee company c/f dep of 1997-98 in AY 2007-08.
The issue is for unabsorb. dep. of AY 1997-98, time limit for c/f. will be infinite or 8 years.....
CA Navin Jain
(Expert)
06 April 2012
will be 8 years
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