Set-off of Business Losses Against Other Income Heads Requires AO Verification; Additional Ground Admitted for Assessee.

Set-off of Business Losses Against Other Income Heads Requires AO Verification; Additional Ground Admitted for Assessee. https://www.taxtmi.com/highlights?id=54176 Set–off of business loss against the other heads of income while completing the assessment - we admit the additional ground considering the fact that the AO has also accepted the loss while computing the income of the assessee, however, whether such loss can be set–off against income from other heads is subject to verification by the AO. - AT en-us Mon, 27 Jul 2020 10:42:24 +0530 Mon, 27 Jul 2020 10:42:24 +0530 TaxTMI RSS Generator Set-off of Business Losses Against Other Income Heads Requires AO Verification; Additional Ground Admitted for Assessee. https://www.taxtmi.com/highlights?id=54176 Set–off of business loss against the other heads of income while completing the assessment - we admit the additional ground considering the fact that the AO has also accepted the loss while computing the income of the assessee, however, whether such loss can be set–off against income from other heads is subject to verification by the AO. - AT Highlights Income Tax Mon, 27 Jul 2020 10:42:24 +0530 https://www.taxtmi.com/highlights?id=54176