02 October 2008
For FY 2000-01 (AY 2001-02), the carry forward of unabsorbed depreciation was restricted to 8 years. A Company X has an unabsorbed depreciation of Rs 2 cr for FY 2000-01 which is supposed to lapse in FY 2008-09.
Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?
02 October 2008
For FY 2000-01 (AY 2001-02), the carry forward of unabsorbed depreciation was restricted to 8 years. A Company X has an unabsorbed depreciation of Rs 2 cr for FY 2000-01 which is supposed to lapse in FY 2008-09.
Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?
CAclubindia
