https://www.taxtmi.com/circulars?id=10045 Relief under Section 80J is confined to positive profits and gains of an industrial undertaking, hotel or ship; if that activity shows a loss, no deduction under the provision may be set off against positive income from other sources, and any shortfall in applicable relief must be carried forward under the statute, with administrative review and rectification of prior erroneous allowances. en-us Tue, 26 Jun 1973 00:00:00 +0530 Mon, 13 Jun 2011 13:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10045 Relief under Section 80J is confined to positive profits and gains of an industrial undertaking, hotel or ship; if that activity shows a loss, no deduction under the provision may be set off against positive income from other sources, and any shortfall in applicable relief must be carried forward under the statute, with administrative review and rectification of prior erroneous allowances. Circulars Income Tax Tue, 26 Jun 1973 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10045