High Court of Karnataka Allows Appeal in Income Tax Case — Assessee's Carried Forward Loss from House Property Cannot Be Set Off Against Salary Income Under Section 71(3A) of Income Tax Act, 1961. The court held that the amendment to Section 71(3A) with effect from 1.4.2003 prohibits set-off of loss from house property against income from other heads except as provided.
3 Jul 2015The assessee, K.S. Venkatesh, filed an appeal under Section 260-A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (...
