https://www.taxtmi.com/caselaws?id=8636 Where a manufacturing business had been discontinued and the assessee was only realising assets, incidental receipts such as interest on outstanding dues and sale proceeds of stores or spare parts did not constitute carrying on business, so no further business deduction was allowable beyond what had already been granted. On the same facts, carry forward and set-off of earlier business losses failed because the business in respect of which the loss arose had not continued in the relevant year; the assessee was therefore not entitled to set off the forgings and castings loss against later income. en-us Mon, 25 Oct 1971 00:00:00 +0530 Fri, 08 May 2009 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8636 Where a manufacturing business had been discontinued and the assessee was only realising assets, incidental receipts such as interest on outstanding dues and sale proceeds of stores or spare parts did not constitute carrying on business, so no further business deduction was allowable beyond what had already been granted. On the same facts, carry forward and set-off of earlier business losses failed because the business in respect of which the loss arose had not continued in the relevant year; the assessee was therefore not entitled to set off the forgings and castings loss against later income. Case-Laws Income Tax Mon, 25 Oct 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8636