Mode and manner of set off of loss - loss from one head set off ...

Case Laws Income Tax

September 11, 2021

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 and then followed by income from long term capital gain and further still unabsorbed loss remains, it should be set off against income from other sources. - AT

View Source

← Previous Next →

Mode and manner of set off of loss - loss from one head set off ...

Case Laws Income Tax

September 11, 2021

You may also like:

Set off of brought forward non speculative loss against the current years speculative income - Set off of loss from one head against income from another - there is no...

Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

Disallowance of commodity derivative loss - speculative loss or not - Assessee is engaged in one and only business of derivative trading in different commodity exchanges...

Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the...

As per the section 71(1), from one head can be set off against the income from another head of income. - even if the said income is treated as an income assessed u/s 68,...

Exemption u/s 10B - 100% EOU - there was a loss in the Unit eligible for deduction u/s. 10B and there was a business income in an another Unit. Therefore, while...

Set off of business loss against interest income taxable under the head income from other sources - as the assessee has not carried out any business activity during the...

Setting off of indirect income against the operational income / trading loss - claiming deduction u.s 80IB - section 71 of the Income Tax Act allows set off of loss from...

Unaccounted income over and above the regular income registered in the books of account - There is no dispute that assessee was engaged for development of project of...

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...

Set off of losses with the surrendered income - the restriction shall apply to assessment year 2017-18 onwards. Accordingly, for the year under consideration, there is...

Set off of unabsorbed business loss - set off against Short Term Capital Gain U/s. 50 - income arising out of a sale of business asset though not taxable as profits and...

Set off of brought forward business loss against income from other sources - As provision of section 72 are very clear that brought forward business loss can only be set...

Set–off of business loss against the other heads of income while completing the assessment - we admit the additional ground considering the fact that the AO has also...

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...

Quick Updates: