https://www.taxtmi.com/caselaws?id=188452 Carried forward business loss could not be set off against income assessed as income from an undisclosed source, because section 24(2)(ii) permitted set-off only against profits or gains of a business, profession or vocation continued in the relevant year. The mistaken set-off was apparent from the record and could be rectified under section 35 without fresh evidence or reappraisal. Pending appeals did not bar rectification where the point corrected was not actually the subject of the appeal. The rectification power was therefore available within its statutory limits notwithstanding appellate proceedings. en-us Fri, 09 Aug 1963 00:00:00 +0530 Thu, 01 Dec 2016 12:42:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188452 Carried forward business loss could not be set off against income assessed as income from an undisclosed source, because section 24(2)(ii) permitted set-off only against profits or gains of a business, profession or vocation continued in the relevant year. The mistaken set-off was apparent from the record and could be rectified under section 35 without fresh evidence or reappraisal. Pending appeals did not bar rectification where the point corrected was not actually the subject of the appeal. The rectification power was therefore available within its statutory limits notwithstanding appellate proceedings. Case-Laws Income Tax Fri, 09 Aug 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188452