During year, assessee filed its return of income and claimed set off of carried forward loss (unabsorbed portion of depreciation) . Same was allowed .PCIT  invoked revision under section 263 on ground that assessee’s income included deemed income being unexplained cash credit under section 68 which is not classified under any heads of income under section 14; therefore, set off of brought forward loss against this deemed income was not correct.  Order of PCIT is affirmed by the Appellate Tribunal . On appeal allowing the appeal the Court held that  amendment brought in section 115BBE(2) by Finance Act, 2016 whereby set off of losses against income referred to in section 68 was denied, would be effective from 1-4-2017 where as during relevant assessment year, there was no bar existed with respect to allowing set off of carried forward unabsorbed depreciation on fixed assets against deemed income under section 68 . Accordingly the order of Appellate Tribunal is seta side . (AY. 2013-14)