https://www.taxtmi.com/caselaws?id=5177 Unity of control and functional integration determine whether import and export activities are the same business for carry-forward and set-off of unabsorbed loss under section 24(2) of the Indian Income-tax Act, 1922. Common management, business organisation, administration, funds and a common place of business support a finding of one integrated business. Mere differences in the goods dealt with or in the mechanics of import and export do not, by themselves, make the activities distinct. On the facts described, the import and export operations were dovetailed and carried on under common control, so the earlier loss could be adjusted against later business profits. en-us Wed, 03 May 1978 00:00:00 +0530 Mon, 13 Jun 2016 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5177 Unity of control and functional integration determine whether import and export activities are the same business for carry-forward and set-off of unabsorbed loss under section 24(2) of the Indian Income-tax Act, 1922. Common management, business organisation, administration, funds and a common place of business support a finding of one integrated business. Mere differences in the goods dealt with or in the mechanics of import and export do not, by themselves, make the activities distinct. On the facts described, the import and export operations were dovetailed and carried on under common control, so the earlier loss could be adjusted against later business profits. Case-Laws Income Tax Wed, 03 May 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5177