Tribunal held that business loss and depreciation loss would continue to remain in books of account till it is wiped off by earning profits by company and the same would be available for reduction from book profits. (AY. 2014-15)
GO Airlines (India) Ltd. v. DCIT (2021) 189 ITD 430 / 198 DTR 113 / 209 TTJ 731 (Mum.)(Trib.)
S. 115JB : Book profit-Business loss-Depreciation loss-Available for reduction from book profits till it was wiped off. [S. 28(i), 32, 72]