Writ relief against show cause notices is available where jurisdiction is absent and concluded advance rulings cannot be reopened without fresh fraud ...
Setoff of busniss loss - whether loss sustained in business can be set off against betting and gambling income; and only the net income is to be taxed under Section 115-BB? - Held No - total winnings from betting of the assessee should be brought to tax at the rate of 40% as contemplated under Section 115BB of the Act.
Setoff of busniss loss - whether loss sustained in business can be set off against betting and gambling income; and only the net income is to be taxed under Section 115-BB? - Held No - total winnings from betting of the assessee should be brought to tax at the rate of 40% as contemplated under Section 115BB of the Act.
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