https://www.taxtmi.com/caselaws?id=241542 The Income Tax Appellate Tribunal's decision to allow the set off of a loss of one unit against the profits of another unit under Section 10-B of the Income Tax Act was upheld. The Tribunal emphasized that there was no legal prohibition against such set off and that the Assessing Officer and Commissioner of Income Tax (Appeals) lacked jurisdiction to disallow the relief granted by the Tribunal. The Tribunal found no substantial question of law for adjudication, affirming the importance of following legal procedures and statutory provisions in applying set off provisions under the Income Tax Act. The appeal was dismissed in favor of the assessee. en-us Wed, 23 Oct 2013 00:00:00 +0530 Thu, 26 Dec 2013 07:49:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241542 The Income Tax Appellate Tribunal's decision to allow the set off of a loss of one unit against the profits of another unit under Section 10-B of the Income Tax Act was upheld. The Tribunal emphasized that there was no legal prohibition against such set off and that the Assessing Officer and Commissioner of Income Tax (Appeals) lacked jurisdiction to disallow the relief granted by the Tribunal. The Tribunal found no substantial question of law for adjudication, affirming the importance of following legal procedures and statutory provisions in applying set off provisions under the Income Tax Act. The appeal was dismissed in favor of the assessee. Case-Laws Income Tax Wed, 23 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241542