Court held that Circular No. 14 of 2001 clarified that under section 32(2) , in computing the profits and gains of business or profession for any previous year, deduction of depreciation under section 32 shall be mandatory. Therefore, the provisions of section 32(2) as amended by the Finance Act, 2001, would allow the unabsorbed depreciation allowance available in the assessment years 1997-98, 1999-2000, 2000-01 and 2001-02 to be carried forward to succeeding years, and if any unabsorbed depreciation or part thereof could not be set off till the assessment year 2002-03 then it would be carried forward till it is set off against the profits and gains of subsequent years. Accordingly, that the assessee, was entitled to carry forward the depreciation loss pertaining to the assessment year 1997-98 to the assessment year 2006-07 .(AY.2006-07)