https://www.taxtmi.com/caselaws?id=60295 Dividend income from shares held as stock-in-trade may retain the character of business income for setting off brought-forward business losses. Investment-company status for applying the Explanation to section 73 is determined by reference to gross total income before Chapter VI-A deductions. Where dividend income exceeds business income on that basis, the company falls within the investment-company description and the Explanation to section 73 does not apply. Consequently, brought-forward business losses may be set off against dividend income derived from trading shares. en-us Wed, 28 Dec 1988 00:00:00 +0530 Tue, 04 Jan 2011 15:38:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60295 Dividend income from shares held as stock-in-trade may retain the character of business income for setting off brought-forward business losses. Investment-company status for applying the Explanation to section 73 is determined by reference to gross total income before Chapter VI-A deductions. Where dividend income exceeds business income on that basis, the company falls within the investment-company description and the Explanation to section 73 does not apply. Consequently, brought-forward business losses may be set off against dividend income derived from trading shares. Case-Laws Income Tax Wed, 28 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60295