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2016 (9) TMI 1576 - AT - Income TaxSet off of inter head adjustment of income from other sources against business loss of 10A unit - DR explained that it is in the nature of exempted business loss - AR submitted that under the provisions of sec. 70(1), set off of loss for one source against income from another source under the same head of income is allowed - HELD THAT:- As relying on material on record and judicial decisions and provisions of sec. 70 of the Act, we are of the opinion that the assessee-company is eligible for set off of business loss against other income including interest under the same head. And the Assessing Officer is directed to allow set off of the other income with business loss determined u/s 10A of the Act. - Decided in favour of assessee.
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