https://www.taxtmi.com/caselaws?id=62807 Business loss had to be adjusted against income under other heads when computing gross total income, and section 71 did not give the assessee an unrestricted choice to postpone set-off. Where available income existed, the loss could not be left unabsorbed merely to preserve a full carry forward while also claiming deduction on dividend income under section 80M. As Chapter VI-A deductions operate on gross total income after permissible set-off, no deduction under section 80M was available if that computation still produced a loss. en-us Sat, 15 Sep 1984 00:00:00 +0530 Fri, 21 Jan 2011 18:29:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62807 Business loss had to be adjusted against income under other heads when computing gross total income, and section 71 did not give the assessee an unrestricted choice to postpone set-off. Where available income existed, the loss could not be left unabsorbed merely to preserve a full carry forward while also claiming deduction on dividend income under section 80M. As Chapter VI-A deductions operate on gross total income after permissible set-off, no deduction under section 80M was available if that computation still produced a loss. Case-Laws Income Tax Sat, 15 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62807