https://www.taxtmi.com/acts?id=40641 A newly inserted provision bars set off of any loss, including brought forward losses, and unabsorbed depreciation against income deemed undisclosed income when such income is identified as a result of a search, requisition or survey. "Undisclosed income" covers money, valuables, books entries or transactions found during those investigative actions that were not recorded in the books before the action or not disclosed to tax authorities before the action, and false expense entries discovered through those actions. en-us Mon, 28 Mar 2022 13:14:34 +0530 Sat, 02 Apr 2022 10:41:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40641 A newly inserted provision bars set off of any loss, including brought forward losses, and unabsorbed depreciation against income deemed undisclosed income when such income is identified as a result of a search, requisition or survey. "Undisclosed income" covers money, valuables, books entries or transactions found during those investigative actions that were not recorded in the books before the action or not disclosed to tax authorities before the action, and false expense entries discovered through those actions. Act-Rules F. Acts / Amendment Acts Mon, 28 Mar 2022 13:14:34 +0530 https://www.taxtmi.com/acts?id=40641