https://www.taxtmi.com/highlights?id=35992 Set off of losses with the surrendered income - the restriction shall apply to assessment year 2017-18 onwards. Accordingly, for the year under consideration, there is no restriction to set off of business losses against income brought to tax u/s 69B -In the absence of any provisions in section 71 falling under Chapter-VI which restrict such set off, in the instant case, set off of business losses against income brought to tax u/s 69B cannot be denied. en-us Mon, 21 Aug 2017 10:44:06 +0530 Mon, 21 Aug 2017 10:46:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=35992 Set off of losses with the surrendered income - the restriction shall apply to assessment year 2017-18 onwards. Accordingly, for the year under consideration, there is no restriction to set off of business losses against income brought to tax u/s 69B -In the absence of any provisions in section 71 falling under Chapter-VI which restrict such set off, in the instant case, set off of business losses against income brought to tax u/s 69B cannot be denied. Highlights Income Tax Mon, 21 Aug 2017 10:44:06 +0530 https://www.taxtmi.com/highlights?id=35992