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of <h1>Section 113 clarifies treatment and carry-forward of unabsorbed speculation business losses and sequencing for set-off</h1> Section 113 confines losses from speculation business to set-off only against speculation profits, permits carry-forward of unabsorbed speculation losses for four succeeding years, and requires such losses to be exhausted before carried-forward allowances under related provisions; a deeming rule treats companies buying and selling others' shares as carrying on speculation to that extent, subject to carve-outs where income mainly arises from specified heads or principal business is share-trading, banking or lending. The Bill refines drafting by expressly defining 'unabsorbed speculation business loss' and clarifying sequencing for set-off, improving interpretive clarity without materially changing substantive outcomes.
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