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Income Tax

Setting off of loss of Sec.10B unit from the income under other...

Section 10B allows offsetting losses from a Section 10B unit against income from other sources, despite implied restrictions.

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Income TaxJanuary 21, 2013Case LawsAT

Setting off of loss of Sec.10B unit from the income under other heads - there is intrinsic material in Section 10B to indicate that such a prohibition was not within the contemplation of the Legislature. - AT

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