Set-off and carry forward of losses: Contents: Set-off of Losses Inter Head Adjustments Exceptions Carry Forward of Losses Mode of Set-off & Carry Forward InterSource Adjustment (Sec 70) Inter Head Adjustment (SEC 71) Carry Forward & Set off of Speculation Loss Carry Forward & Set-off of Speculation Loss Carry forward of unabsorbed Depreciation (Sec 32(2)) Carry forward & set-off of loss from the activity of owning & maintaining racehorses (sec 74a) Order of set-off of Business Loss