Loss from a discontinued business
This query is : Resolved
16 April 2010
Hi guys,
"Loss from a discontinued business can be carried forward"
Can you please quote case law/section that substantiates the above claim.
It's a pvt ltd comp.
Thank You
Radhe Krishna
"Loss from a discontinued business can be carried forward"
Can you please quote case law/section that substantiates the above claim.
It's a pvt ltd comp.
Thank You
Radhe Krishna
VIKAS AGGARWAL
(Expert)
16 April 2010
loss from a discountinued business can be carry forward and set off for 8 years and set off against the prfit of another business of same legal entity as per section 72 of the act.
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