Income tax- negative ios

Rohit Tulshyan (RTProfessionals) (333 Points)

01 December 2011  

Hey,

           I have income in other sources and I took set off of interest paid from it and showed it as negative IOS. Is it correct. Is their any case law approving the same. Can ITO disallow it saying it should be setoff against PGBP and not IOS.

 

Thank You.