https://www.taxtmi.com/caselaws?id=208435 The Special Bench concluded that the brought forward business loss could not be set off against long-term capital gains. The reference was answered in favor of the Revenue, upholding that Section 72 permits set-off only against business income, not capital gains. The case was to be posted before the Division Bench to implement the Special Bench's order and address remaining grounds of appeal. en-us Fri, 09 Dec 2011 00:00:00 +0530 Thu, 21 Apr 2016 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208435 The Special Bench concluded that the brought forward business loss could not be set off against long-term capital gains. The reference was answered in favor of the Revenue, upholding that Section 72 permits set-off only against business income, not capital gains. The case was to be posted before the Division Bench to implement the Special Bench's order and address remaining grounds of appeal. Case-Laws Income Tax Fri, 09 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208435