Home Highlights August 2019 Year 2019 This

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1. Set off of unabsorbed depreciation against Income from House Property and Income from Other Sources - the ‘set off’ of the ‘unabsorbed depreciation’ cannot be bridled...

2. Mode and manner of set off of loss - loss from one head set off against other head of income - business loss should be first set off against income from house property...

3. Deduction u/s 10B - Here in the case in hand, the total income was first arrived at by the Revenue through the AO in the Assessment Order by computing the total income...

4. Setting off the brought forward unabsorbed depreciation against the Income from House Property - effect must be given to Section 32(2) of the Act for that assessment...

5. Set off of unabsorbed depreciation allowances against income under the head salary - losses under the head income from business or profession, including unabsorbed...

6. Set off of Unabsorbed depreciation as on April 1, 1997 can be set off against the income from any head for the immediate assessment year following April 1, 1997...

7. As per section 72(2), unabsorbed business loss is to be first set off and thereafter unabsorbed depreciation treated as current years depreciation u/s 32(2) is to be set...

8. Claim of set off of unabsorbed depreciation against the rental income treated as income from other sources – discontinued activity - set off allowed - AT

9. When the unabsorbed depreciation could not be set off as against the income from business or profession the same can be set off from income from other sources - HC

10. Allowability of set off business loss against income from house property u/s 70 – assessee has not carried on any business activity – assessee's claim that all the...

11. Set off and carry forward of loss under the head ‘income from house property’ - Since the assessee is entitled to claim the entire interest paid during the year on loan...

12. Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

13. Settlement of case - Set off the unabsorbed business loss - filing of belated return - Indeed, the assessee disclosed the income declared in the settlement commission...

14. Unabsorbed business/depreciation loss - carried forward and set off - the legislature has resorted to original provisions by amendment brought in by Finance Act 2001,...

15. Set-Off of brought forward unabsorbed depreciation against income from other sources and/or capital gains - CIT(A) has rightly directed the AO to allow the set off of...