Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Losses of unregistered firms: restricted to set off against firm income, partners barred from personal set off or carry forward. Section 77 was omitted. Previously, losses of an unregistered firm not assessed as a registered firm could be set off or carried forward only against the ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Losses of unregistered firms: restricted to set off against firm income, partners barred from personal set off or carry forward.
Section 77 was omitted. Previously, losses of an unregistered firm not assessed as a registered firm could be set off or carried forward only against the firm's income. A partner's share of such a loss could not be set off under general set off provisions nor carried forward and set off against the partner's own income.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.