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Section 71(1) Income Tax Act: Set Off Business Losses Against Other Income, Reducing Tax Liability.

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....Allowability of set off of business loss against the interest income - as per section 71(1) of the Act, assessee is entitled to set off business loss with income from other sources. - AT....

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Section 71(1) Income Tax Act: Set Off Business Losses Against Other Income, Reducing Tax Liability.