https://www.taxtmi.com/caselaws?id=417691 The tribunal upheld the CIT(A)'s decision, denying the set-off of the assessee's operational loss against income from other sources and house property. The appeal was dismissed, emphasizing that losses from mutual activities are outside the ambit of taxation and cannot be set off against taxable income. The tribunal referenced prior judicial precedents to support its decision. en-us Thu, 27 Jan 2022 00:00:00 +0530 Sat, 29 Jan 2022 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417691 The tribunal upheld the CIT(A)'s decision, denying the set-off of the assessee's operational loss against income from other sources and house property. The appeal was dismissed, emphasizing that losses from mutual activities are outside the ambit of taxation and cannot be set off against taxable income. The tribunal referenced prior judicial precedents to support its decision. Case-Laws Income Tax Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417691