Wife or minor child of individual incurs loss, which if it were income would be includible in income of that individual - Whether such loss should be treated as if it were loss sustained by that individual

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....that individual - Whether such loss should be treated as if it were loss sustained by that individual CLARIFICATION 1 1. Reference is invited to the Board's Instruction No. 405 [F. No. 208/2/71-IT (A-II)], dated 6-4-1972, on the above subject. 2. On the basis of the decision of the Gujarat High Court in the case of Dayalbhai Madhavji Vadera v. CIT [1966] 60 ITR 551, the Board had issued instruc....

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....-2-1973. CLARIFICATION 2 Attention is invited to the Board's Circular No. 35 of 1941, on the above subject. It was laid down therein that where the wife or minor child of an individual incurs a loss which if it were income would be includible in the income of that individual under section 16(3) of the 1922 Act, such loss should be set-off only against the income, if any, of the wife or minor chi....