https://www.taxtmi.com/caselaws?id=6203 For section 24(2) of the Income-tax Act, 1922, the decisive test is whether two activities show inter-connection, inter-lacing, interdependence and unity of business organisation. Common management, employees, administration, fund and place of business are material indicators of that unity. On the stated facts, share dealings and other trading activities were carried on under common management and infrastructure, so they formed one integrated business. The loss from share dealings was therefore capable of being carried forward and set off against profits from the other business activities, and the referred question was answered in the affirmative in favour of the assessee. en-us Mon, 27 Apr 1970 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6203 For section 24(2) of the Income-tax Act, 1922, the decisive test is whether two activities show inter-connection, inter-lacing, interdependence and unity of business organisation. Common management, employees, administration, fund and place of business are material indicators of that unity. On the stated facts, share dealings and other trading activities were carried on under common management and infrastructure, so they formed one integrated business. The loss from share dealings was therefore capable of being carried forward and set off against profits from the other business activities, and the referred question was answered in the affirmative in favour of the assessee. Case-Laws Income Tax Mon, 27 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6203