Business Loss Offset Allowed Against Surrendered Income in Property Dealings Case, Classified as Business Income.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of the set off of the business loss with surrendered income - the surrendered income, in respect of which the entries had already been made in the books of accounts of the assessee in relation to the property income from property dealing, amount to business income and it allows the set off of the business loss - AT....