https://www.taxtmi.com/caselaws?id=12773 The High Court held in favor of the assessee, allowing the set off of losses from agricultural activities in previous years against income in the current year under Rule 9 of the Finance Act, 1979. The Court emphasized that as long as the assessee can demonstrate losses incurred in accordance with previous Finance Acts, the benefit of set off should not be denied, even if returns were not filed in earlier years. This decision ensures that the intended benefit by Parliament is enjoyed by the assessee without causing injustice to the Revenue. en-us Wed, 05 Sep 2001 00:00:00 +0530 Thu, 21 May 2009 18:53:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12773 The High Court held in favor of the assessee, allowing the set off of losses from agricultural activities in previous years against income in the current year under Rule 9 of the Finance Act, 1979. The Court emphasized that as long as the assessee can demonstrate losses incurred in accordance with previous Finance Acts, the benefit of set off should not be denied, even if returns were not filed in earlier years. This decision ensures that the intended benefit by Parliament is enjoyed by the assessee without causing injustice to the Revenue. Case-Laws Income Tax Wed, 05 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12773