https://www.taxtmi.com/caselaws?id=288942 The Tribunal allowed the set off of brought forward losses against additional income for both assessment years, reversing the CIT(A)'s decision. The additional income declared during the survey was deemed business income and eligible for set off, as it was found to be directly related to the assessee's business activities. The Tribunal distinguished the case from others where the source of income was unexplained, ultimately granting the set off and allowing the appeals of the assessee. en-us Wed, 06 Jun 2018 00:00:00 +0530 Tue, 07 Jul 2020 11:16:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288942 The Tribunal allowed the set off of brought forward losses against additional income for both assessment years, reversing the CIT(A)'s decision. The additional income declared during the survey was deemed business income and eligible for set off, as it was found to be directly related to the assessee's business activities. The Tribunal distinguished the case from others where the source of income was unexplained, ultimately granting the set off and allowing the appeals of the assessee. Case-Laws Income Tax Wed, 06 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288942