https://www.taxtmi.com/caselaws?id=290104 For the 1944-45 assessment year, the first proviso to Section 24(1) did not bar set-off of loss from an Indian State business against British India profits because it came into force after the assessment year had begun, and tax liability had to be determined under the law in force on the first day of that year. The text also states that, for a resident assessee, business income from an Indian State formed part of total income for computation purposes, and Section 14(2)(c) did not prevent the loss from that business being taken into account merely because the income was not received in British India during the relevant accounting period. en-us Wed, 23 Apr 1952 00:00:00 +0530 Wed, 09 Sep 2020 09:49:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290104 For the 1944-45 assessment year, the first proviso to Section 24(1) did not bar set-off of loss from an Indian State business against British India profits because it came into force after the assessment year had begun, and tax liability had to be determined under the law in force on the first day of that year. The text also states that, for a resident assessee, business income from an Indian State formed part of total income for computation purposes, and Section 14(2)(c) did not prevent the loss from that business being taken into account merely because the income was not received in British India during the relevant accounting period. Case-Laws Income Tax Wed, 23 Apr 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290104