FINAL ANSWER

Please refer this path

/forum/message_display.asp?group_id=53900&offset=5

Please go on the following link and read PRAVEEN'S post....

What u say then??

/forum/message_display.asp?group_id=53900&offset=4

hope this topic is cool now!!!!!!1

coolest trinath, coolest

Finally, the discussion is over.

Same Profession, Same Institute, Same Law,

But

DIFFERENT VIEWS.

Kashyap,, but still the query remains unsolved..

As, some of them agreed and some of them not... They had their views, proofs, and preferences...

Conclusion:

Unabsorbed Depreciation cannot be set off against Salary income....

It can however be carried forward infinitely.......

hmmm........

ya ya... i know

 plzz....i,m again saying the ammendment made in fa act 2004 ...dissallowed set off salary with pgbp loss..

pgbp loss is always diff from unabsorbed dep...as they are governed by different dections...

sec 32 doesnt deny benefit of such set off

i wud recomend mischief rule of interpretation...to interpret the amendment which came abt in 2004

the ammendment came ...bcoz ppl showed fictitous pgbp loss to set off salary and claim refund of tds...to plug the lacuna the amendment was introduced....this manipulation was tough with ubsorbed dep as an assessee needed actual fixed assets to claim dep....

b4 such ammendment both pgbp loss and unabsorbed dep cud be set off with salary w/o any limit

the amendment came only for denying set off salary income with pgbp loss...

May be IT Dept. and ICAI should come out with a clarification.

Hi Kabirsen.., I completely agree with u... And so i started this forum too...

I know, unabsorbed depreciation can be set off against salary.. But than brother, when noone is ready to listen or agree with us, why to bother much about then??

Just look at the expert's section, even they are denying for the same, they disagree with unabsorbed depreciation setting off agains salary...

So, how far are you goin to do this??

arey yaar,...

if u don agree with expert view.

consult singhanai book.

it is very clear in that

And Kashyap,, if IT Dept or ICAI wud have come and clarified for anything ever...

To koi doubt ya problem kabhi aate hi nahi mere bhai... They just declare,, but never clarify...

Dear Trinath... refer what kabirsen has already clarified and other books too have (and at ur saying, i'll refer SINGHANI too today)....

It says, "PGBP EXPENSES OR LOSSES ARE DIFFERENT FROM UNABSORBED DEPRECIATION"... And so, it can be set off,,, read the KABIRSEN'S complete explaination once and then criticise brother...

But, i'll now refer SINGHANIA asap, and i'm sure it also wud say "pgbp losses" can't be set off against slary... But it won't say that unabsorbed depreciation can't be set off...

Nywz, let me refer SINGHANIA today.., lets just see...

And good that u r still on wid dis forum...