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Income Tax - Highlights / Catch Notes

Home Highlights April 2012 Year 2012 This

Set off of business loss ignoring the provisions of section ...

Case Laws     Income Tax

April 9, 2012

Set off of business loss ignoring the provisions of section 90(2) - From the prescription of section 71, it is palpable that there is no bar in allowing set off of loss under the head "Profits and gains of business or profession" against income under the head "Income from other sources".

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