https://www.taxtmi.com/caselaws?id=185409 Business income was treated as a single statutory head, so profits and losses from separate businesses carried on by the same assessee had to be computed together. The right of set-off under the relevant provision applied only where a loss under one head was adjusted against income under another head, and the proviso could not restrict the plain scope of the main enactment. On that basis, a loss from one business was allowable against profits from another business within the same head of income. en-us Thu, 18 Mar 1948 00:00:00 +0530 Thu, 11 Aug 2016 17:50:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185409 Business income was treated as a single statutory head, so profits and losses from separate businesses carried on by the same assessee had to be computed together. The right of set-off under the relevant provision applied only where a loss under one head was adjusted against income under another head, and the proviso could not restrict the plain scope of the main enactment. On that basis, a loss from one business was allowable against profits from another business within the same head of income. Case-Laws Income Tax Thu, 18 Mar 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185409