https://www.taxtmi.com/caselaws?id=289222 Carry-forward and set-off of losses under Section 24(2) of the Income-tax Act, 1922 depended on whether the business in which the loss arose was still being carried on in the relevant year. The test was whether the two ventures were so interlaced, dovetailed and interconnected as to form one business, considering unity of control, management, activities, staff, capital and the effect of closure of one venture on the other. On the facts, the coal mining business at Mundulpoor had closed before the coal-raising contract business began, and there was no factual continuity or interdependence between them. They were therefore different businesses, and the earlier loss could not be carried forward and set off against the later business. en-us Wed, 01 Jan 1800 00:00:00 +0553 Tue, 21 Jul 2020 11:52:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289222 Carry-forward and set-off of losses under Section 24(2) of the Income-tax Act, 1922 depended on whether the business in which the loss arose was still being carried on in the relevant year. The test was whether the two ventures were so interlaced, dovetailed and interconnected as to form one business, considering unity of control, management, activities, staff, capital and the effect of closure of one venture on the other. On the facts, the coal mining business at Mundulpoor had closed before the coal-raising contract business began, and there was no factual continuity or interdependence between them. They were therefore different businesses, and the earlier loss could not be carried forward and set off against the later business. Case-Laws Indian Laws Wed, 01 Jan 1800 00:00:00 +0553 https://www.taxtmi.com/caselaws?id=289222