https://www.taxtmi.com/caselaws?id=39325 Expenditure incurred by a partner in earning share income from a firm is deductible, subject to proof that the items claimed were actually incurred and admissible. Earlier assessment-year losses may be quantified and carried forward for set-off against later share income, and the Tribunal may direct such quantification even if the Income-tax Officer had not done so earlier. Where the earlier business and the partnership activity constitute the same business, continuity is preserved despite a temporary lease or a change in the calcination process, so earlier losses and stock-in-trade loss remain available for set-off. en-us Thu, 27 Sep 1973 00:00:00 +0530 Thu, 15 Apr 2010 15:38:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39325 Expenditure incurred by a partner in earning share income from a firm is deductible, subject to proof that the items claimed were actually incurred and admissible. Earlier assessment-year losses may be quantified and carried forward for set-off against later share income, and the Tribunal may direct such quantification even if the Income-tax Officer had not done so earlier. Where the earlier business and the partnership activity constitute the same business, continuity is preserved despite a temporary lease or a change in the calcination process, so earlier losses and stock-in-trade loss remain available for set-off. Case-Laws Income Tax Thu, 27 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39325