https://www.taxtmi.com/caselaws?id=290629 A partnership firm is not a separate legal entity from its partners and cannot itself be treated as a partner in another concern. On that basis, the assessed firm could not claim set-off of the loss of Arjan Das Sada Sukh against the profits of its other business. The claimed entitlement also failed on the facts, because the asserted effective share of the four brothers in the firm was rejected on evidence and that finding was supported by material on record. The referred question was answered against the assessees, and the set-off was disallowed. en-us Mon, 10 Dec 1934 00:00:00 +0530 Wed, 07 Oct 2020 17:12:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290629 A partnership firm is not a separate legal entity from its partners and cannot itself be treated as a partner in another concern. On that basis, the assessed firm could not claim set-off of the loss of Arjan Das Sada Sukh against the profits of its other business. The claimed entitlement also failed on the facts, because the asserted effective share of the four brothers in the firm was rejected on evidence and that finding was supported by material on record. The referred question was answered against the assessees, and the set-off was disallowed. Case-Laws Income Tax Mon, 10 Dec 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290629