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Income Tax - Highlights / Catch Notes

Home Highlights April 2018 Year 2018 This

Set off of brought forward non speculative loss against the ...


Non-Speculative Losses Can Offset Current Speculative Income if Prior Speculative Losses Are Adjusted First.

April 12, 2018

Case Laws     Income Tax     AT

Set off of brought forward non speculative loss against the current years speculative income - Set off of loss from one head against income from another - there is no bar in adjustment of unabsorbed business losses from speculation profit of the current year, provided the speculation losses for the year and earlier has been first adjusted from speculation profit - AT

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