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Depreciation loss
can depreciation loss be carried forward in case of belated return?
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Unabsorbed depreciation can be claimed even if return is filed belatedly
The assessee having filed ITR, though belatedly but within the extended period allowed under the Act is entitled to the benefit of carry forward and set off of unabsorbed depreciation allowance as part of depreciation of the succeeding year in view of the provisions of section 32(2) of the Act .
The assessee having filed ITR, though belatedly but within the extended period allowed under the Act is entitled to the benefit of carry forward and set off of unabsorbed depreciation allowance as part of depreciation of the succeeding year in view of the provisions of section 32(2) of the Act .
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