The aim of any businessman is to earn profits. However, if by misfortune or by any recession in worldwide economy or by any epidemic, the businessman incurs loss from his business, then he must have an opportunity to adjust this loss against his income in the current year against any other source of income which is not prohibited against such adjustment and should be permitted to carry this loss forward and adjust likewise in later years against income of that year.
from taxmann.com News https://ift.tt/3c7ja0x
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