https://www.taxtmi.com/caselaws?id=249474 The Tribunal allowed the assessee's appeal, directing that the brought forward business loss should be set off against speculation income for the assessment year 2006-07. The Tribunal clarified the applicability of sections 72 and 73 of the Income Tax Act, noting that the carry forward and set off of business loss, other than speculation business loss, is governed by section 72. The Tribunal remanded the matter to the Assessing Officer to determine the eligible amount for set off based on assessed figures and unabsorbed depreciation. en-us Fri, 20 Jun 2014 00:00:00 +0530 Tue, 15 Jul 2014 06:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249474 The Tribunal allowed the assessee's appeal, directing that the brought forward business loss should be set off against speculation income for the assessment year 2006-07. The Tribunal clarified the applicability of sections 72 and 73 of the Income Tax Act, noting that the carry forward and set off of business loss, other than speculation business loss, is governed by section 72. The Tribunal remanded the matter to the Assessing Officer to determine the eligible amount for set off based on assessed figures and unabsorbed depreciation. Case-Laws Income Tax Fri, 20 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249474