Clarification on Set-Off of Indexed Long-Term Capital Losses Against Gains Under Income Tax Act Section 70(3).

Set off of indexed long term capital loss against non-indexed long term capital gains - the expression "similar computation" used in section 70(3) of the Act does not refer to the computation under sections 48 to 55 of the Act and not the computation second proviso to section 48 of the Act vis-à-vis proviso to section 112(1) of the Act but the computation under sections 48 to 55 of the Act.... - AT .....

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