https://www.taxtmi.com/acts?id=45971 A proviso allows losses from a business discontinued under the discontinuance provision that is re-established within the revival period to be carried forward to the assessment year of re-establishment, set off first against that business's or any other business's profits for that year, and if not wholly set off and the business continues, carried forward for a limited number of succeeding assessment years; the general non-set off rule is amended to exclude these losses. en-us Mon, 09 Dec 2024 21:51:54 +0530 Mon, 09 Dec 2024 21:51:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45971 A proviso allows losses from a business discontinued under the discontinuance provision that is re-established within the revival period to be carried forward to the assessment year of re-establishment, set off first against that business's or any other business's profits for that year, and if not wholly set off and the business continues, carried forward for a limited number of succeeding assessment years; the general non-set off rule is amended to exclude these losses. Act-Rules F. Acts / Amendment Acts Mon, 09 Dec 2024 21:51:54 +0530 https://www.taxtmi.com/acts?id=45971