Clubbing of income of spouse - Non-allowing of set off of ...

Income Tax Case: Spouse's Income Clubbed and Business Losses Not Offset u/s 64(1)(iv) and Explanation 3.

January 22, 2020

Case Laws Income Tax AT

Clubbing of income of spouse - Non-allowing of set off of business loss - Going by the Explanation 3 read in conjunction with section 64(1)(iv) of the Act, the entire amount of loss resulting from the business of F&O with the gifts received from the assessee is liable to be clubbed in the hands of the assessee. - Claim allowed.

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Clubbing of income of spouse - Non-allowing of set off of ...

Income Tax Case: Spouse's Income Clubbed and Business Losses Not Offset u/s 64(1)(iv) and Explanation 3.

January 22, 2020

Case Laws Income Tax AT

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