https://www.taxtmi.com/caselaws?id=31308 The Tribunal upheld the decision allowing the assessee to set off brought forward losses against the income assessed for the year under consideration. The Tribunal found that the Assessing Officer failed to provide evidence supporting the claim that the income was not speculative, noting consistency in the assessee's activities in previous years. Based on principles of equity and justice, the Tribunal dismissed the appeal, stating no substantial question of law arose for consideration, and upheld the judgment on factual findings and material before it. en-us Thu, 23 Oct 2008 00:00:00 +0530 Fri, 16 Sep 2011 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31308 The Tribunal upheld the decision allowing the assessee to set off brought forward losses against the income assessed for the year under consideration. The Tribunal found that the Assessing Officer failed to provide evidence supporting the claim that the income was not speculative, noting consistency in the assessee's activities in previous years. Based on principles of equity and justice, the Tribunal dismissed the appeal, stating no substantial question of law arose for consideration, and upheld the judgment on factual findings and material before it. Case-Laws Income Tax Thu, 23 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31308