AS 22 and carried forward of loss

This query is : Resolved

selva (Querist)
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19 October 2009 can u give me any article or case law on the following issue

our company having lot of units of which two are eligible for 80IB

we are claiming the 80IB deduction

in over all because of difference between income tax and companies act depreciation we are having carried forward of loss to set off against future income

my query is whether we are eligible to claim the unabsorbed depreciation loss as per AS 22

Aditya Maheshwari

Aditya Maheshwari (Expert)
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20 October 2009 I think if unabsorbed deprecaition claim allowable u/s 32 then u can make deferred tax asset as per AS - 22

As per you case if loss is allowable then deferred tax asset as per AS - 22 allowed.