Held term or set off of any loss was specifically inserted only vide Finance Act, 2016, with effect from 1-4-2017, an assessee is entitled to claim set-off of loss against income determined till assessment year 2016-17. (AY. 2015-16)
ACE Infracity Developers (P.) Ltd. v. DCIT (2021) 188 ITD 589 (Delhi)(Trib.)
S. 115BBE : Tax on specified income-set-off of any loss-Entitled to claim set-off of loss against income determined under till assessment year 2016-17. [S. 68 to 69D]