https://www.taxtmi.com/caselaws?id=191862 A loss incurred in Burma during the accounting year, when Burma formed part of British India, was treated as a loss sustained in British India for set-off against investment income. Sections 3 and 4(1) of the Indian Income-tax Act were read together so that tax liability attached to the income or loss of the previous year. Burma's later separation from British India did not change the character of the loss when it was actually incurred. The loss was therefore allowable for set-off, and the reference was answered in favour of the assessee. en-us Tue, 01 Nov 1938 00:00:00 +0530 Fri, 28 Apr 2017 10:42:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191862 A loss incurred in Burma during the accounting year, when Burma formed part of British India, was treated as a loss sustained in British India for set-off against investment income. Sections 3 and 4(1) of the Indian Income-tax Act were read together so that tax liability attached to the income or loss of the previous year. Burma's later separation from British India did not change the character of the loss when it was actually incurred. The loss was therefore allowable for set-off, and the reference was answered in favour of the assessee. Case-Laws Income Tax Tue, 01 Nov 1938 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191862