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B/f of losses

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(Querist)
13 April 2010 Can b/f business loss be set-off against speculation income. If yes, then whats the caselaw. If not, then why not. Is speculation income from commodities not a business income.
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shraddha

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shraddha (Expert)
14 April 2010 Business loss can be set off against income from remaing heads but not with speculation income as it is probvided in Act.
Speculation loss can be set off against only speculation income
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