https://www.taxtmi.com/caselaws?id=55548 The Tribunal allowed the assessee's appeal, permitting the set-off of unabsorbed business losses against the current year's income. It determined that the sale of scrap was an integral part of the business activities, constituting the same business despite changes in operations. The Tribunal upheld the classification of income from the sale of scrap as business income, emphasizing the unity of control in the assessee's business activities. The decision highlighted the interconnected and interdependent nature of the business, supporting the assessee's entitlement to the set-off and overturning the lower authorities' rulings. en-us Wed, 13 Aug 1997 00:00:00 +0530 Sat, 27 Nov 2010 16:32:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55548 The Tribunal allowed the assessee's appeal, permitting the set-off of unabsorbed business losses against the current year's income. It determined that the sale of scrap was an integral part of the business activities, constituting the same business despite changes in operations. The Tribunal upheld the classification of income from the sale of scrap as business income, emphasizing the unity of control in the assessee's business activities. The decision highlighted the interconnected and interdependent nature of the business, supporting the assessee's entitlement to the set-off and overturning the lower authorities' rulings. Case-Laws Income Tax Wed, 13 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55548