The Madras High Court ruled that unabsorbed depreciation can be carried forward beyond 8 years. The assessee, M/s.KMC Speciality Hospitals India Ltd. submitted that for the Assessment Year 2007-08, the return of income, admitting the business loss of Rs.65,22,677/- and carried forward loss of Rs.18,39,06,826/-, which included depreciation allowance of Rs.17,73,84,149/-. The case was selected […]
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