Mathur p. limited engaged in chain cold storage has brought forward business loss 12 lakh of assessment year 2016-17 . during the previous year 2016-17 the income from said business is 9 lakh it has profit from trade in grain of 6 lakh the total income of assessment year 2017-18
(1). 15 lakh
(2). 6 lakh
(3). 9 lakh
(4). 3 lakh
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food grains
Replies (1)
I guess as per 35ad you can only set off loss to the extent of 9 lakh and should not use profit of 6 lakh
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