https://www.taxtmi.com/caselaws?id=61201 The Tribunal upheld the Appellate Assistant Commissioner's decision to allow the set off and carry forward of losses in the hands of individual partners in a firm. It emphasized the statutory entitlement of partners to claim deductions based on their individual assessments, highlighting that the provisions of section 80 of the Income Tax Act override other relevant sections in determining the treatment of losses allocated to partners. The Tribunal dismissed the appeals, confirming the partners' right to set off or carry forward losses in their individual assessments. en-us Mon, 14 Jun 1982 00:00:00 +0530 Tue, 11 Jan 2011 12:50:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61201 The Tribunal upheld the Appellate Assistant Commissioner's decision to allow the set off and carry forward of losses in the hands of individual partners in a firm. It emphasized the statutory entitlement of partners to claim deductions based on their individual assessments, highlighting that the provisions of section 80 of the Income Tax Act override other relevant sections in determining the treatment of losses allocated to partners. The Tribunal dismissed the appeals, confirming the partners' right to set off or carry forward losses in their individual assessments. Case-Laws Income Tax Mon, 14 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61201