https://www.taxtmi.com/caselaws?id=8837 Income included in an assessee's total income under section 16(3) of the Indian Income-tax Act, 1922, retains its original business character for set-off purposes. Where the included income is share income of a wife or minor children arising from business, it is treated as business income attributable to the assessee for assessment under section 10. On that basis, carried forward business losses could be set off under section 24(2) against such income, because the statutory fiction preserves the business character of the amount for the limited purpose of the set-off. en-us Wed, 21 Mar 1973 00:00:00 +0530 Tue, 16 Jun 2009 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8837 Income included in an assessee's total income under section 16(3) of the Indian Income-tax Act, 1922, retains its original business character for set-off purposes. Where the included income is share income of a wife or minor children arising from business, it is treated as business income attributable to the assessee for assessment under section 10. On that basis, carried forward business losses could be set off under section 24(2) against such income, because the statutory fiction preserves the business character of the amount for the limited purpose of the set-off. Case-Laws Income Tax Wed, 21 Mar 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8837