TMI BlogAggregation of losses in case of change in constitution of unincorporated bodyX X X X Extracts X X X X X X X X Extracts X X X X ..... for the financial year ending on the date of the retirement, or death, of a participant, shall be reduced by the amount in proportion of the share of the retired, or deceased, participant. (2) The amount so reduced under sub-section (1) shall be the 'unabsorbed preceeding year loss from ordinary sources', for the financial year beginning on the date immediately following the date of retirement, o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Code. (6) For the purposes of this Code, any reference to the 'unabsorbed preceeding year loss from ordinary sources' and 'unabsorbed preceeding year loss from the special source' in respect of an unincorporated body where a change has occurred in its constitution due to death, or retirement, of its participant, shall be construed as a reference to the amount so reduced under sub-section (1) and s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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