https://www.taxtmi.com/caselaws?id=16676 The court held that the assessee, as an individual, could not set off her share of loss from an association of persons (AOP) against her individual income. The court emphasized that the AOP is a separate taxable entity, distinct from its members, under the Income-tax Act, 1961. Referring to relevant case law, the court concluded that the income of an AOP must be taxed in the hands of the AOP itself, not its members. Therefore, the set off claimed by the assessee was disallowed, ruling in favor of the Revenue and against the assessee, with no order as to costs. en-us Thu, 09 Jul 1998 00:00:00 +0530 Wed, 09 Sep 2009 13:19:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16676 The court held that the assessee, as an individual, could not set off her share of loss from an association of persons (AOP) against her individual income. The court emphasized that the AOP is a separate taxable entity, distinct from its members, under the Income-tax Act, 1961. Referring to relevant case law, the court concluded that the income of an AOP must be taxed in the hands of the AOP itself, not its members. Therefore, the set off claimed by the assessee was disallowed, ruling in favor of the Revenue and against the assessee, with no order as to costs. Case-Laws Income Tax Thu, 09 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16676