Tribunal held that unabsorbed depreciation is deemed to be current year’s depreciation and can be set off against capital gain. (AY. 2015 -16 )
Hirsh Bracelet India (P.) Ltd. v. ACIT (2019) 178 ITD 601 (Bang.) (Trib.)
S. 71 : Set off of loss-One head against income from another- Unabsorbed depreciation is deemed to be current year’s depreciation and can be set off against capital gain. [S. 32(2), 45]