Set off of business loss against interest income taxable under ...

Income Tax

March 9, 2016

Set off of business loss against interest income taxable under the head income from other sources - as the assessee has not carried out any business activity during the year under appeal, then there remains no possibility of set off of business loss against interest income taxable under the head income from other sources. - AT

View Source

← Previous Next →

Set off of business loss against interest income taxable under ...

Income Tax

March 9, 2016

You may also like:

Set off of the brought forward losses against the income from other sources - Ld. CIT (A) has rightly decided that, “although interest income has been shown as income...

Disallowance u/s 14A - Carry forward of business loss – setting off carry forward business losses now depends on the finality of the addition made by Assessing Officer...

Set off of losses against income from STP units - the loss from other business activities should not be set off against profits derived from eligible industrial undertaking - AT

Mode and manner of set off of loss - loss from one head set off against other head of income - business loss should be first set off against income from house property...

Reopening of assessment - assessee cannot be considered to be carrying on NBFC business - If the interest income is assessed under the head income from other sources,...

Set-off of losses in share trading - The assessee would not be deemed to be carrying on a speculation business for the purpose of section 73(1) - HC

Set off and carry forward of loss under the head ‘income from house property’ - Since the assessee is entitled to claim the entire interest paid during the year on loan...

Set off the business losses against the capital gains u/s 71 - The assessee in the return of income did not set off the business loss against the short term capital gain....

Disallowance of loss of trading in commodity exchange - set off of loss - there is no finding by both the lower authorities challenging the genuineness of the commodity...

Carry forward of the loss - loss as claimed by the assessee treating the same as excess application of loss u/s.11 - set off allowed - AT

Quick Updates: