No Prohibition in Set off of Loss against ‘Income from Other Sources’ prior to 2017 Amendment: ITAT [Read Order]

While deleting a revisional order, the Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that there is no prohibition under the Income Tax Act, 1961 to set off the loss against the income declared as “income from other sources” under the Act. The assessee an individual is the proprietor of Sunmoon Hospitality. […]

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