Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

For the purpose of setting off of losses, the whole business ...


Businesses Must Treat Entire Operation as Single Entity for Loss Offsetting to Accurately Calculate Taxable Income.

April 27, 2016

Case Laws     Income Tax     AT

For the purpose of setting off of losses, the whole business should be treated as one business - AT

View Source

 


 

You may also like:

  1. Set-off of capital loss - The assessee states that it be the ultimate holding company was obligated to support its subsidiary companies likes RCML to revive their...

  2. Derivative trading loss as business loss - when undisputedly assessee has entered into transaction of derivatives after 01.04.2006 in a recognised stock exchange as per...

  3. Losses incurred by the assessee from F & O operations - Speculation loss or business loss - Loss incurred on account of derivatives would be deemed business loss under...

  4. Nature of loss - Speculative loss or normal business loss - Marked to market loss on hedging of the transaction - The Appellate Tribunal held that speculative...

  5. Disallowance of bad debt/forfeiture of advance - If there is direct and proximate nexus between the business operation and the loss, or it is incidental to it, then the...

  6. Disallowance of Capital Loss on Sale of Shares - sale of shares due to the amalgamation of certain entities - The AO disallowed the loss, treating it as an artificial...

  7. Appellant booked artificial short-term capital loss by purchasing shares from group entities at exorbitant rates and selling same shares to other group entities at lower...

  8. The loss incurred in share trading business by such companies, i.e. like the assessee, will not be treated as speculation business loss but normal business loss, and...

  9. Claim of business loss rejected - loss comprised of deposit relatable to dealership/distributorship and the balance referable to cylinder hire charges due to...

  10. Disallowance of mark to market losses - Nature of loss - allowable business loss or not? - The assessee is consistently following the method of accounting. Therefore,...

  11. Loss incurred by the assessee on F & O (Future and Options) derivative transactions - “speculative loss” or not - disallowing the set off of the said loss against other...

  12. ITAT ruled on long-term capital gains from unlisted shares under India-Mauritius DTAA, specifically addressing loss carry-forward without offsetting against capital...

  13. Nature of loss - capital loss or business loss - company in liquidation - assesssee claimed the same as business loss - Tribunal allowed the same as capital loss -...

  14. Forex loss - allowable business loss u/s 37(1) or not? - The assessee company has entered into transactions of buying and selling of forex and incurred a loss on the...

  15. Loss incurred by the assessee in purchase and sale of shares - Whether a business loss or speculation loss? - In case, the assessee has earned profit from share trading...

 

Quick Updates:Latest Updates