https://www.taxtmi.com/caselaws?id=63372 The Tribunal affirmed the Commissioner (Appeals)'s decision that the profit from the sale of the margarine plant constituted a business profit arising from an adventure in the nature of trade. The assessee was permitted to set off brought forward business losses against this profit under section 72(1)(i) of the Income-tax Act, 1961. The revenue's appeal was dismissed, upholding the assessee's position. en-us Mon, 12 Mar 1984 00:00:00 +0530 Sat, 29 Jan 2011 16:26:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63372 The Tribunal affirmed the Commissioner (Appeals)'s decision that the profit from the sale of the margarine plant constituted a business profit arising from an adventure in the nature of trade. The assessee was permitted to set off brought forward business losses against this profit under section 72(1)(i) of the Income-tax Act, 1961. The revenue's appeal was dismissed, upholding the assessee's position. Case-Laws Income Tax Mon, 12 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63372