Set off of unabsorbed depreciation

This query is : Open

Jayant (Querist)
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07 September 2010 whether CIT can reopen A.Y. 2005-06 where assessee claimed brought forward dep. allowance of A.Y. 92-93 and 93-94.

what is exact status of Period of limitation? FRom which year the unabsorbed dep can be acrried to subsequent 7 years?

CA. Bikash Bogi

CA. Bikash Bogi (Expert)
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12 September 2010 Dear jayant

Claim of brought forward depreciation can be claimed in the indefinite period. there is no time limitation for claiming the same. Period of limitation is only for business or other losses to be carried forward