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Loss from a discontinued business

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(Querist)
16 April 2010 Hi guys,

"Loss from a discontinued business can be carried forward"

Can you please quote case law/section that substantiates the above claim.
It's a pvt ltd comp.

Thank You
Radhe Krishna
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VIKAS AGGARWAL

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VIKAS AGGARWAL (Expert)
16 April 2010 loss from a discountinued business can be carry forward and set off for 8 years and set off against the prfit of another business of same legal entity as per section 72 of the act.

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