https://www.taxtmi.com/caselaws?id=36450 The court held in favor of the revenue, ruling that the association of persons (AOP) could not claim the set-off of carry forward loss once it had already been apportioned among its members. The court cited precedents and emphasized that allowing the same loss to be set off twice would be illogical and inequitable. The decision was based on the principle that once the loss is allocated to individual members, there is no loss left for the AOP to carry forward. The revenue was awarded costs from the assessee, including an advocate's fee of Rs. 250. en-us Tue, 01 Jul 1980 00:00:00 +0530 Mon, 22 Mar 2010 13:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36450 The court held in favor of the revenue, ruling that the association of persons (AOP) could not claim the set-off of carry forward loss once it had already been apportioned among its members. The court cited precedents and emphasized that allowing the same loss to be set off twice would be illogical and inequitable. The decision was based on the principle that once the loss is allocated to individual members, there is no loss left for the AOP to carry forward. The revenue was awarded costs from the assessee, including an advocate's fee of Rs. 250. Case-Laws Income Tax Tue, 01 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36450