https://www.taxtmi.com/caselaws?id=8127 Whether a managing agency and dealings in a company's shares form the same business for carry-forward and set-off depends on factual unity: the ventures must be interconnected, interlaced, interdependent and so dovetailed as to constitute one business. Common ownership, common management or a single set of accounts are not decisive by themselves, but surrounding circumstances may establish unity of business. On the facts, the shares were acquired with the managing agency, part of the acquisition was to secure that agency, most shares related to the managed company, and the activities were combined in practice. The activities were therefore treated as one business, and the set-off was available. en-us Thu, 10 Dec 1970 00:00:00 +0530 Sat, 28 Mar 2009 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8127 Whether a managing agency and dealings in a company's shares form the same business for carry-forward and set-off depends on factual unity: the ventures must be interconnected, interlaced, interdependent and so dovetailed as to constitute one business. Common ownership, common management or a single set of accounts are not decisive by themselves, but surrounding circumstances may establish unity of business. On the facts, the shares were acquired with the managing agency, part of the acquisition was to secure that agency, most shares related to the managed company, and the activities were combined in practice. The activities were therefore treated as one business, and the set-off was available. Case-Laws Income Tax Thu, 10 Dec 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8127