Section 71

  • Income Tax

Under section 71 assessee have option to set off losses against capital gains and it is not mandatory

Under section 71 assessee have option to set off losses against capital gains and the set off is not mandatory…

6 years ago
  • Income Tax

Set off of business loss from unexplained cash credits u/s 68 not permissible in view of combined reading of sections 71 , 72 and 32(2).

In a latest judgment, ITAT Chennai has upheld that allowing set off of business loss from the unexplained cash credits…

8 years ago