Brought forward business losses can be set off against the gains arising from any business or profession, though chargeable to tax under any other head of income

Brought forward business losses can be set off against the gains arising from any business or profession, though chargeable to tax under any other head of income Digital Electronics Ltd. Vs. ACIT135 TTJ 419 (Mum ITAT) Facts:- During the assessment year 2005-06, the taxpayer had sold the factory building, plant and machinery, furniture and fixtures on which it had earned capital gains. The taxpayer had set off unabsorbed depreciation and brought forward business losses against the short term capital gains on sale of factory building, plant and machinery, furniture and fixtures. The Assessing Of...