https://www.taxtmi.com/caselaws?id=284222 For set-off under section 24(2) of the Income-tax Act, 1922, whether two trading activities form one business or separate businesses depends on their factual nexus, including inter-connection, inter-lacing and inter-dependence. The HC upheld the Tribunal's finding that the assessee's share-dealing in futures was a distinct speculative business, and that common finances, no separate establishment, and no separate place of business or expenditure did not by themselves negate separateness. As the finding was supported by evidence, it was not open to interference, and the share-dealing losses could not be adjusted against income from the commission agency business. en-us Thu, 31 Mar 1955 00:00:00 +0530 Thu, 07 Nov 2019 12:28:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284222 For set-off under section 24(2) of the Income-tax Act, 1922, whether two trading activities form one business or separate businesses depends on their factual nexus, including inter-connection, inter-lacing and inter-dependence. The HC upheld the Tribunal's finding that the assessee's share-dealing in futures was a distinct speculative business, and that common finances, no separate establishment, and no separate place of business or expenditure did not by themselves negate separateness. As the finding was supported by evidence, it was not open to interference, and the share-dealing losses could not be adjusted against income from the commission agency business. Case-Laws Income Tax Thu, 31 Mar 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284222