https://www.taxtmi.com/caselaws?id=5131 Under section 24(2) of the Indian Income-tax Act, 1922, the test for whether two trading activities form the same business is whether there is inter-connection, inter-lacing, inter-dependence and unity. Applying that test to the found facts, the cloth dealings were not treated as a distinct business; common management, a common business organisation and sufficient dovetailing between the cloth section and the general section showed one commercial venture. The cloth business and the general section were therefore part of the same business, allowing the cloth losses to be carried forward and set off against the profits of the other business. en-us Tue, 04 Feb 1969 00:00:00 +0530 Thu, 20 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5131 Under section 24(2) of the Indian Income-tax Act, 1922, the test for whether two trading activities form the same business is whether there is inter-connection, inter-lacing, inter-dependence and unity. Applying that test to the found facts, the cloth dealings were not treated as a distinct business; common management, a common business organisation and sufficient dovetailing between the cloth section and the general section showed one commercial venture. The cloth business and the general section were therefore part of the same business, allowing the cloth losses to be carried forward and set off against the profits of the other business. Case-Laws Income Tax Tue, 04 Feb 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5131