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2012 (5) TMI 55 - AT - Income TaxSet off of short term capital loss on transaction Security Transaction Tax had been paid against short term capital gain arising from non STT transactions - Held that:- Under the provisions of section 70(2), short term capital loss arising from any asset can be set off against short term capital gain arising from any other asset under a similar computation made - merely because the two set of transactions are liable for different rate of tax it cannot be said that income from these transactions does not arise from similar computation made as computation in both the cases has to be made in similar manner under the same provisions – in favour of assessee
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