https://www.taxtmi.com/caselaws?id=288728 A registered assessee-firm could not set off its share of loss from an unregistered joint venture against its own income, because the governing rule from Commissioner of Income Tax v. Jadavji Narsidas & Co. limited such loss to set-off only against the income of that unregistered firm. The fact that the department had not assessed the unregistered entity, or had not taken action under the relevant provision, did not change that legal position. The prior view allowing the set-off was therefore no longer good law, and the claim was disallowed. en-us Sun, 08 Mar 1964 00:00:00 +0530 Thu, 25 Jun 2020 11:44:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288728 A registered assessee-firm could not set off its share of loss from an unregistered joint venture against its own income, because the governing rule from Commissioner of Income Tax v. Jadavji Narsidas & Co. limited such loss to set-off only against the income of that unregistered firm. The fact that the department had not assessed the unregistered entity, or had not taken action under the relevant provision, did not change that legal position. The prior view allowing the set-off was therefore no longer good law, and the claim was disallowed. Case-Laws Income Tax Sun, 08 Mar 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288728