https://www.taxtmi.com/caselaws?id=6439 Capital loss incurred when capital gains were not chargeable under section 12B of the Indian Income-tax Act, 1922 could not be carried forward or set off against later capital gains. The Act treated income, profits and gains as part of total income only when they were chargeable under the charging and computation provisions, and a loss from a non-taxable head was not a loss capable of computation or future set-off under section 24. The referred question was answered against the assessee and in favour of the Revenue. en-us Tue, 25 Feb 1975 00:00:00 +0530 Tue, 21 Oct 2014 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6439 Capital loss incurred when capital gains were not chargeable under section 12B of the Indian Income-tax Act, 1922 could not be carried forward or set off against later capital gains. The Act treated income, profits and gains as part of total income only when they were chargeable under the charging and computation provisions, and a loss from a non-taxable head was not a loss capable of computation or future set-off under section 24. The referred question was answered against the assessee and in favour of the Revenue. Case-Laws Income Tax Tue, 25 Feb 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6439