| Citation(s) |
|---|
| 1993 SLG 115 1993 SLD 115 1993 PTD 985 (1993) 200 ITR 274 |
Supreme Court of India
Civil Appeals Nos. 3642 and 3643 of 1983, decision dated: 7-01-1993(Appeals from the judgment and order, dated 14-12-1979, of the Gauhati High Court in Income Tax Reference No. 16 of 1978)
M.N. VENKATACHALIAH AND G.N. RAY, JJ
Ms. A. Subhashini for Appellant. N.R. Chaudhry for
Respondent
Civil Appeals Nos. 3642 and 3643 of 1983, decision dated: 7-01-1993(Appeals from the judgment and order, dated 14-12-1979, of the Gauhati High Court in Income Tax Reference No. 16 of 1978)
M.N. VENKATACHALIAH AND G.N. RAY, JJ
Ms. A. Subhashini for Appellant. N.R. Chaudhry for
Respondent
COMMISSIONER OF INCOME TAX
VS
SINGH TRANSPORT CO
Law: Income Tax Act, 1961
Section: 32,72,3,75
Income-tax----Depreciation---Registered firm---Unabsorbed depreciation allocated to partners not fully set off in their assessments---Firm entitled to carry forward balance of unabsorbed depreciation- Indian Income Tax Act, 1961, Ss.32, 72, '3 & 75. Against the decision of the Gauhati High Court in CIT v. Singh Transport Co. (1980) 123 ITR 698 to the effect that the unabsorbed depreciation of a registered firm for the preceding assessment years allocated to its partners, not wholly set off in their respective assessments, should be brought back for computation of the total income of the firm in the subsequent years, as if the balance…
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