Income under each head has to be computed only after considering the income from various sources under the same head

RELEVANT PARAGRAPH 11 If we go to the facts of the case the business loss returned by the assessee to the extent it could not be set off was in fact carried forward and while computing the gross total income the income under the head business was nil but in fact the assessee has incurred the net business loss aggregating to Rs.21,22,545/ -. The Hon’ble High Court there also did not take the view that the gross total income of the assessee do not consist of any income from business but in fact in view of the business loss being much more than the dividend income under the head “inco...