TMI BlogSetoff of busniss loss - whether loss sustained in business can be set off against betting and gambling...Setoff of busniss loss - whether loss sustained in business can be set off against betting and gambling income; and only the net income is to be taxed under Section 115-BB? - Held No - total winnings from betting of the assessee should be brought to tax at the rate of 40% as contemplated under Section 115BB of the Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|