Tribunal held that the assessee has correctly considered the unabsorbed depreciation for Financial Year 2010-11 in its working which portion has remained unabsorbed against the existing book profits of that year.    Explanation 1 to Section 115JB(2) used the expression unabsorbed depreciation which has distinct conotations via-a-vis total depreciation.  Tribunal held that the claim of the assessee being lower of unabsorbed depreciation and business loss deserves to be set-off against the current year book profit in terms of the provisions of clause (iii) of Explanation 1 of Section 115JB(2) of the Act.  The claim of the assessee was allowed. (AY. 2012-13)