Can deprn loss busi loss set of against intereston it refund

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g chandrasekar (Querist)
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23 March 2018 we closed our company on 01.04.2014 we got income tax refund for old years during F.Y.2017-2018. interest on it refund amounted to 5lakhs . 1.can business loss and depreciation loss of old years be adjusted against interest on income tax refund
2.we have expenses for auditor, company secretary , accountant , loss on sale of asset can this expenses be adjusted again the interest on income tax refund

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 March 2018 1. Unabsorbed depreciation can be set off, but not unabsorbed business loss

2. Current year business loss can be set off against interest income.

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