https://www.taxtmi.com/caselaws?id=49308 The High Court ruled in favor of the assessee, affirming that the business loss of Rs. 55,912 from the preceding year could be set off against the entire income, including interest on securities, in the succeeding years. The court clarified that income from securities forming part of the trading assets was considered part of the business income under section 24(2) of the Indian Income-tax Act, 1922. The appeals were dismissed with costs. en-us Fri, 02 Apr 1965 00:00:00 +0530 Wed, 20 Aug 2014 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49308 The High Court ruled in favor of the assessee, affirming that the business loss of Rs. 55,912 from the preceding year could be set off against the entire income, including interest on securities, in the succeeding years. The court clarified that income from securities forming part of the trading assets was considered part of the business income under section 24(2) of the Indian Income-tax Act, 1922. The appeals were dismissed with costs. Case-Laws Income Tax Fri, 02 Apr 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49308