Taxpayer's Right to Set-Off Capital Loss Upheld; Assessing Officer Can't Alter LTCG Calculations u/s 70.

Set-off of long term capital loss on sale of mutual funds - gain from sale of shares as well as property is available - Once the assessee has determined its lTCG income in a particular manner which has sanction of section 70, the AO cannot disturb such calculation merely because it is less remunerative from the angle of determination of tax .....

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