Set off of Unabsorbed Business Loss
Q. If X Company is having unabsorbed business loss from the Assessment year 2008-09 and in the Assessment Year 2010-11 the Company is having the Speculation Profit, Speculation profit for the A.Y. 2010-11 can be adjusted with the unabsorbed loss of the Assessment Year: 2008-09.
As per ready reckoner of V.K. Singhania under the Rules of Carry forward of losses given as under:
Other unabsorbed Business losses means other than Speculation Loss can be setoff with
Current years any business profit (Whether from speculation or otherwise).
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