Allowability and Rule of Carry Forward and Set off Of Losses Under Income Tax Law

Allowability and Rule of Carry Forward and Set-off of Losses Under Income Tax Law is a specialized and authoritative treatise focusing on one of the most technically complex areas of Indian direct taxation. The book offers a detailed examination of statutory provisions governing inter-head and intra-head set-off, carry forward of losses, and their allowability under various circumstances.

Covering the framework laid down in Sections 70 to 80 of the Income Tax Act, 1961, the book analyzes business losses, capital losses, speculation losses, losses from house property, and losses of closely held companies. It highlights statutory conditions, procedural requirements, time limits, and restrictions, including those applicable in cases of amalgamation, demerger, and change in shareholding.

Designed with a practical orientation, the book assists professionals in ensuring compliance, optimizing tax outcomes, and handling assessment and appellate proceedings. Its structured and topic-wise approach makes it an indispensable reference for resolving complex loss adjustment issues with clarity and precision.