S. Sathyaraj v. ITO (2019) 76 ITR 387 (Chennai)(Trib.)

S. 32 : Depreciation-Unabsorbed depreciation-Set-off-Assessee admitting income from business and profession-Entitled to set off brought forward loss against such income. [S. 32(2)]

Tribunal  held that the assessee had admitted income from business and profession. Therefore, the assessee was entitled to set off the brought forward loss against such income. The AO was to verify the fact of income admitted from business and profession and if it was the fact, then he shall allow the brought forward depreciation claim to the extent of availability of income under that head. (AY. 2009-10-2014-15)