TMI Blog1948 (3) TMI 37X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee was carrying on two distinct and separate businesses, one in Bombay and the other at Indore. During the year of account there was profit in the Bombay business, but the business at Indore resulted in a loss amounting to ₹ 1,55,583. The assessee claimed that this loss should be set off against the profits realised in the Bombay business. The view taken by the Income-tax Officer an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urn. Section 14 contains provisions which are in the nature of exemptions of a general nature and sub-clause (c) of that section exempts from tax all income, profits or gains which accrue to an assessee within an Indian State unless such income, profits or gains are received or deemed to be received in or are brought into British India in the previous year by or on behalf of the assessee under Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is therefore clear that this section only deals with the right of an assessee who has made a loss under one head enumerated in Section 6 to set off that loss against a profit made by him under a different head under Section 6. The proviso on which the Advocate-General relies is to this effect:― Provided that, where the loss sustained is a loss of profits or gains which would but for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the language of the main enactment is clear and unambiguous, a proviso can have no repercussion on the interpretation of the main enactment, so as to exclude from it by implication what clearly falls within its express terms. To my mind the scheme of the Act is perfectly clear. When you turn to Section 10 which deals with business it is a self-contained head. Different businesses do not constitut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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