Assessees must offset business losses against short-term capital gains; no separate carry forward allowed u/s 71(2). https://www.taxtmi.com/highlights?id=20016 Provisions of section 71(2) cannot be construed to give option to the assessee to carry forward business loss separately without set off of income arising out of short term capital gain. - AT en-us Thu, 11 Sep 2014 16:26:23 +0530 Thu, 11 Sep 2014 16:26:23 +0530 TaxTMI RSS Generator Assessees must offset business losses against short-term capital gains; no separate carry forward allowed u/s 71(2). https://www.taxtmi.com/highlights?id=20016 Provisions of section 71(2) cannot be construed to give option to the assessee to carry forward business loss separately without set off of income arising out of short term capital gain. - AT Highlights Income Tax Thu, 11 Sep 2014 16:26:23 +0530 https://www.taxtmi.com/highlights?id=20016