TMI Blog2019 (11) TMI 1708X X X X Extracts X X X X X X X X Extracts X X X X ..... h Sakre [ 2019 (3) TMI 1689 - ITAT PUNE] for assessment year 2012-13 held that the assessee therein is entitled to set off loss of Long Term Capital Gains from the shares on which security transaction is paid or payable against the Long Term Capital Gains earned from shares on which no security transaction is paid or payable. In order to come to such conclusion, Co-ordinate Bench placed reliance on the order of Mumbai ITAT in the case of Raptakos Brett Co. Ltd., [ 2015 (6) TMI 529 - ITAT MUMBAI] . We find the facts and circumstances of the said case are similar, basing on same identical facts. Therefore, in our opinion, in the present case, the assessee is entitled to set off of brought forward losses from Long Term Capital Gains from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee filed return of income declaring a total income of ₹ 31,33,218/-. Notices u/s 143(2) and 142(1) of the Act were issued, in response to which authorized representative on behalf of the assessee appeared before the Assessing Officer and filed required details. 6. We find that the assessee claimed set off of Long Term Capital Gains arising from the sale of flat in Mumbai against brought forward capital loss arising from sale of shares of public limited company listed in Stock Exchange. The Assessing Officer held Long Term Capital Gains where STT is paid, is exempt from tax u/s 10(38) of the Act. He held the loss arising from the sale of shares of listed companies in Stock Exchange with STT paid is dead loss and denied set off ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le. Therefore, the order of CIT(A) in confirming the order of Assessing Officer in not allowing set off of Long Term Capital Gains against brought forward Long Term Capital Loss is not justified. Thus, ground No.1 raised by the assessee is allowed. 8. In the result, the appeal of assessee is allowed. 9. Next, we shall take up appeal in ITA No.1303/PUN/2017 filed by the Revenue for assessment year 2013-14. 10. We find grounds No.1 to 3 raised by the Revenue are similar to the ground No.1 raised by assessee in ITA No.1445/PUN/2017, wherein we decided the issue in favour of assessee in the aforementioned paragraphs. Therefore, the order of CIT(A) in allowing set off of Long Term Capital Gains against brought forward Long Term Capital ..... X X X X Extracts X X X X X X X X Extracts X X X X
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