BUSINESS LOSS ::
Last updated: 10 December 2007
Court :
HC
Brief :
Held by the Hon`ble Bench that section 71(2) allows an assessee to set off of business loss from income under any head including capital gains, further no sequence is prescribed for set off of losses, thus it is open to the assessee to set off the business loss against any head as is beneficial to him.
Citation :
Coated Fabrics P. Ltd. Vs. J.C.I.T.
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CA.Saibaburao Nanduri
Published in Income Tax
Views : 127
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