https://www.taxtmi.com/caselaws?id=385676 The ITAT allowed the appeal, reversing the order under appeal. It held that there was no mistake apparent from the record in the original assessment order, and the brought forward losses were correctly set off against the speculative business income for the year under consideration. The decision focused on the correct interpretation of section 73 of the Income Tax Act, ruling in favor of the assessee due to the continuity of business activities. en-us Fri, 06 Sep 2019 00:00:00 +0530 Wed, 11 Sep 2019 07:57:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385676 The ITAT allowed the appeal, reversing the order under appeal. It held that there was no mistake apparent from the record in the original assessment order, and the brought forward losses were correctly set off against the speculative business income for the year under consideration. The decision focused on the correct interpretation of section 73 of the Income Tax Act, ruling in favor of the assessee due to the continuity of business activities. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385676