https://www.taxtmi.com/caselaws?id=250442 The High Court upheld the decisions of the lower authorities in disallowing the set off of business loss against rental income from house property. The court agreed that the assessee had ceased manufacturing activities and the expenses claimed as business losses were not related to any business activity but to maintaining the leased property. The court found no error in the Tribunal's order, which was deemed reasonable and well-founded, dismissing the appeal and affirming the denial of the set off based on lack of business activity and to prevent double deductions. en-us Mon, 21 Jul 2014 00:00:00 +0530 Tue, 17 Feb 2015 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250442 The High Court upheld the decisions of the lower authorities in disallowing the set off of business loss against rental income from house property. The court agreed that the assessee had ceased manufacturing activities and the expenses claimed as business losses were not related to any business activity but to maintaining the leased property. The court found no error in the Tribunal's order, which was deemed reasonable and well-founded, dismissing the appeal and affirming the denial of the set off based on lack of business activity and to prevent double deductions. Case-Laws Income Tax Mon, 21 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250442