TMI BlogLosses in speculation businessX X X X Extracts X X X X X X X X Extracts X X X X ..... any loss computed in respect of a speculation business has not been wholly set off under sub-section (1), so much of the loss as is not so set off or the whole loss where the assessee had no income from any other specula tion business, shall, subject to the other provisions of this Chapter, be carried forward to the following assessment year, and- ( i ) it shall be set off against the profits a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e gross total income consists mainly of income which is chargeable under the heads Interest on securities , Income from house property , Capital gains and Income from other sources ] , or a company 4 [the principal business of which is the business of trading in shares or banking] or the granting of loans and advances) consists in the purchase and sale of shares of other companies, such com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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