Central Government Act
Section 32(2) in The Income- Tax Act, 1995
(2) Where, in the assessment of the assessee 2[ 1 full effect cannot-- of such acquisition owned by any person resident in India;
be given to any allowance 1[ under clause (ii) of sub- section (1)] in any previous year, owing to there being no profits or gains chargeable for that previous year, or owing to the profits or gains chargeable being less than the allowance, then, subject to the provisions of sub- section (2) of section 72 and sub- section (3) of section 73, the allowance or part of the allowance to which effect has not been given, as the case may be, shall be added to the amount of the allowance for depreciation for the following previous year and deemed to be part of that allowance, or if there is no such allowance for that previous year, be deemed to be the allowance for that previous year, and so on for the succeeding previous years. 1 Substituted for" under clause (i) or clause (ii) or clause (iia) or clause (iv) or clause (v) or clause (vi) of sub- section (1) or under clause (i) of sub- section (1A)" by the Taxation Laws (Amendment and Miscellaneous Provisions) Act, 1986 , w. e. f. 1- 4- 1988 .