https://www.taxtmi.com/caselaws?id=288737 Section 24(2) of the Indian Income-tax Act allowed carry forward and set-off of loss only when the assessee sustaining the loss and the assessee claiming the set-off were the same. A Hindu undivided family and a registered firm were treated as separate taxable units, and the fact that the same individuals were involved in both did not make the two entities identical for assessment purposes. The Act also distinguished a firm from its partners and an undivided family from its coparceners, with Sections 25A and 23(5) reinforcing that separation. On that basis, a registered firm could not set off a loss incurred by the Hindu undivided family. en-us Fri, 30 Mar 1951 00:00:00 +0530 Thu, 25 Jun 2020 17:09:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288737 Section 24(2) of the Indian Income-tax Act allowed carry forward and set-off of loss only when the assessee sustaining the loss and the assessee claiming the set-off were the same. A Hindu undivided family and a registered firm were treated as separate taxable units, and the fact that the same individuals were involved in both did not make the two entities identical for assessment purposes. The Act also distinguished a firm from its partners and an undivided family from its coparceners, with Sections 25A and 23(5) reinforcing that separation. On that basis, a registered firm could not set off a loss incurred by the Hindu undivided family. Case-Laws Income Tax Fri, 30 Mar 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288737