Commissioner Of Income Tax vs Manmohan Das

Whether remuneration received as treasurer of a bank constitutes income from business/profession under Section 10 of the Income Tax Act, 1922, allowing set-off of losses from previous years under Section 24(2) --- Held Yes. Whether an assessee can claim set-off of loss from a previous year when no appeal was filed against the ITO's refusal to allow carry-forward in that year --- Held Yes.