1979 (10) TMI 2 - SC - Income Tax

Whether, on the facts and circumstances of the case, the assessee was entitled in law to set-off unabsorbed loss of Rs. 15,50,189 of the assessment year 1950-51 against the business income of the assessment year 1960-61 - held, no - law applicable is the law that is in force in 1960-61.