https://www.taxtmi.com/caselaws?id=6820 For set-off of carried forward loss, the controlling test is whether the later-year profits arose from the same business or from a distinct and different business. The article states that a pooling arrangement with other factory owners, intended to restrict competition, did not change the essential character of the assessee's ginning and pressing operations, because the productive apparatus, nature of work, and working control remained substantially the same. On that basis, the profits were treated as arising from the same business, and the brought forward loss was allowable to be set off. en-us Thu, 17 Feb 1966 00:00:00 +0530 Mon, 02 Feb 2009 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6820 For set-off of carried forward loss, the controlling test is whether the later-year profits arose from the same business or from a distinct and different business. The article states that a pooling arrangement with other factory owners, intended to restrict competition, did not change the essential character of the assessee's ginning and pressing operations, because the productive apparatus, nature of work, and working control remained substantially the same. On that basis, the profits were treated as arising from the same business, and the brought forward loss was allowable to be set off. Case-Laws Income Tax Thu, 17 Feb 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6820