Supreme Court Awards Rs. 6 Lakh to Man Acquitted After 6 Years, Faults UP Police Probe  ||  Supreme Court: High Courts Can Restore Power on 50% Deposit in Arbitrary Theft Assessments  ||  Supreme Court: Cooperative Society Cannot Deny RTI Records as Personal if Registrar Can Access Them  ||  SC: CoC Cannot Withdraw Approved Resolution Plan Over Improved Corporate Debtor Finances  ||  Delhi High Court: 24-Week Limit Alone Cannot Restrict Medical Termination of Pregnancy  ||  Allahabad High Court Rejects Challenge to 18% GST on Online Legal Database Services  ||  Madras High Court: FIR Registration Does Not Decide Guilt; Prior Hearing of Accused Not Required  ||  Kerala High Court Orders Speedy Prosecution Sanction Process in Sabarimala Gold Theft Case  ||  Allahabad HC: Missing RT-PCR Report Cannot Bar COVID-19 Compensation if Records Confirm Infection  ||  MP High Court Directs Indore Police to Deploy Volunteers for Reporting Noise Pollution Violations    

Ker. HC: Loss in Derivative Business Would be a Business Loss for Purposes of Section 72 of IT Act - (05 Dec 2024)

DIRECT TAXATION

Kerala High Court has observed that a loss in the derivative business would consequently be a business loss for the purposes of Section 72 of the Income Tax Act, 1961 and a set off of such business loss would have to be permitted against profits and gains of business as computed in terms of the Act.

Tags : KERALA HIGH COURT   DERIVATIVE BUSINESS   SECTION 72  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved