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2016 (7) TMI 335 - ITAT PUNESet off of brought forward business loss against deemed S.T.C.G. u/s. 50 - Held that:- As decided in case of Nandi Steel Ltd., V. ACIT [2011 (12) TMI 162 - ITAT BANGALORE] held that the capital gains on sale of capital assets is not to be set off against the brought forward loss of earlier years. Only the business loss can be carried forward u/s 72 of the Act and it can also be set off only against the business income of the assessee - Decided in favour of revenue
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