Set off of losses
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 July 2016
Can current year Business loss (not being speculative or specified business) be set off against interest on IT refund received during the year offered under the head Income from Other sources ? If yes, are there any case laws or references ?
15 July 2016
Yes, it can be set-off. No case laws as it is allowed.
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