https://www.taxtmi.com/caselaws?id=5903 Business loss carried forward under the Indian Income-tax Act, 1922 could be set off against the business income of a wife and minor children that was included in the assessee's total income under the clubbing provision. The Court read the clubbing and loss-set-off provisions together and treated such included income as business income from a business carried on by the assessee for the purpose of section 24(2). That construction was preferred because it gave effect to the statutory scheme and avoided an inequitable and unintended result. The assessee was therefore entitled to the set-off. en-us Thu, 29 Aug 1985 00:00:00 +0530 Wed, 10 Jun 2026 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5903 Business loss carried forward under the Indian Income-tax Act, 1922 could be set off against the business income of a wife and minor children that was included in the assessee's total income under the clubbing provision. The Court read the clubbing and loss-set-off provisions together and treated such included income as business income from a business carried on by the assessee for the purpose of section 24(2). That construction was preferred because it gave effect to the statutory scheme and avoided an inequitable and unintended result. The assessee was therefore entitled to the set-off. Case-Laws Income Tax Thu, 29 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5903