https://www.taxtmi.com/caselaws?id=276217 Relief under section 24(2) of the Indian Income-tax Act, 1922 is available only when the loss and later profits arise from the same business, judged by whether the ventures are interlaced, interdependent and dovetailed into one another. The assessee bears the burden of producing material to show such unity of business. On the record, there was no evidence explaining the share purchases, any benefit to the sugar business, or the reason for the later sale of shares, so the finding that the share-dealing activity was a separate business was supported by evidence and was upheld. en-us Tue, 23 Jul 1963 00:00:00 +0530 Fri, 02 Nov 2018 12:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276217 Relief under section 24(2) of the Indian Income-tax Act, 1922 is available only when the loss and later profits arise from the same business, judged by whether the ventures are interlaced, interdependent and dovetailed into one another. The assessee bears the burden of producing material to show such unity of business. On the record, there was no evidence explaining the share purchases, any benefit to the sugar business, or the reason for the later sale of shares, so the finding that the share-dealing activity was a separate business was supported by evidence and was upheld. Case-Laws Income Tax Tue, 23 Jul 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276217