The Ld. CIT(A) after considering relevant submissions of the assessee and also taken note of provision of section 71(2A) of the I.T. Act, 1961 held that as per law, a loss under the head profits and gains of business and profession cannot be set off against income form salaries. He, further, observed that the claim that unabsorbed depreciation is separate from profits and gains of the business and profession is wrong interpretation of law. Unabsorbed depreciation does not have separate existent in final computation of profits and gains of business and profession. Therefore, he opined that the case laws relied upon by the assessee is not applicable to the facts of the present case. He also distinguished the decision of ITAT, Chennai bench, in the case ofV. Lakshmananv.ITO(supra). The Ld. CIT(A) has also taken support from explanatory memorandum to Finance Act, 2004, which explains the position of law as amended with effect from 1-4-2005 to section 71(2A), as per which losses under the head profits and gains of the business cannot be set off against income under the head salaries. Accordingly, he has rejected arguments of the assessee and confirmed additions made by the AO towards disallowance of losses being unobsrobed depreciation. Aggrieved by the ld. CIT(A) order, the assessee is in appeal before Tribunal.