https://www.taxtmi.com/caselaws?id=6806 Two ventures constitute the same business for carry-forward and set-off of losses only if the proved facts show real commercial unity through interconnection, interlacing, interdependence or a dominant nexus. Common ownership, staff, banking arrangements or books of account are relevant but not decisive. On the facts described, the sugar manufacturing activity was the principal business, while the speculative dealings in gunny, hessian, jute and mustard seeds were separate, temporary and separately accounted transactions that were not shown to be auxiliaries or branches of the sugar business. en-us Wed, 04 Jan 1967 00:00:00 +0530 Mon, 02 Feb 2009 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6806 Two ventures constitute the same business for carry-forward and set-off of losses only if the proved facts show real commercial unity through interconnection, interlacing, interdependence or a dominant nexus. Common ownership, staff, banking arrangements or books of account are relevant but not decisive. On the facts described, the sugar manufacturing activity was the principal business, while the speculative dealings in gunny, hessian, jute and mustard seeds were separate, temporary and separately accounted transactions that were not shown to be auxiliaries or branches of the sugar business. Case-Laws Income Tax Wed, 04 Jan 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6806