https://www.taxtmi.com/caselaws?id=8606 The court ruled in favor of the assessee, allowing her to set off her share of the loss in an association of persons against her income from other sources. The court interpreted relevant provisions of the Income-tax Act, emphasizing the principle of a single tax on total income and distinguishing between types of income. Precedents, including decisions by the Privy Council and Supreme Court, supported the allowance of set-off. The court rejected the argument that an association of persons and its members are distinct entities for taxation purposes, holding that the assessee was entitled to the set-off claimed. en-us Wed, 24 Nov 1971 00:00:00 +0530 Fri, 08 May 2009 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8606 The court ruled in favor of the assessee, allowing her to set off her share of the loss in an association of persons against her income from other sources. The court interpreted relevant provisions of the Income-tax Act, emphasizing the principle of a single tax on total income and distinguishing between types of income. Precedents, including decisions by the Privy Council and Supreme Court, supported the allowance of set-off. The court rejected the argument that an association of persons and its members are distinct entities for taxation purposes, holding that the assessee was entitled to the set-off claimed. Case-Laws Income Tax Wed, 24 Nov 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8606