https://www.taxtmi.com/caselaws?id=215167 The High Court held that the brought forward business loss could be set off against rental income, car and computer hire charges, and commission income as they represented profits and gains of the business carried on by the assessee. The Court emphasized that income should be judged by commercial principles to determine if it represents business income, regardless of the classification under different heads for assessment. The appeal was allowed in favor of the assessee, with no order as to costs. en-us Mon, 23 Jul 2012 00:00:00 +0530 Thu, 19 Jul 2018 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215167 The High Court held that the brought forward business loss could be set off against rental income, car and computer hire charges, and commission income as they represented profits and gains of the business carried on by the assessee. The Court emphasized that income should be judged by commercial principles to determine if it represents business income, regardless of the classification under different heads for assessment. The appeal was allowed in favor of the assessee, with no order as to costs. Case-Laws Income Tax Mon, 23 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215167