Set off of indexed long term capital loss against non-indexed ...

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

February 7, 2012

Case Laws Income Tax AT

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

View Source

← Previous Next →

Set off of indexed long term capital loss against non-indexed ...

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

February 7, 2012

Case Laws Income Tax AT

You may also like:

Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by...

ITAT adjudicated a dispute regarding capital gains taxation, specifically addressing the set-off of non-grandfathered short-term and long-term capital losses against...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

The ITAT Mumbai addressed errors in capital gain computation. The Assessee's claim of ₹ 859,680 was accepted over the AO's ₹ 791,221. An application u/s 154...

Set off of brought forward business loss and brought forward long term capital loss - capital gains computed u/s 50 is be deemed to be short-term capital gains and this...

Revision u/s 263 by CIT - set off of brought forward business loss from the income assessable under the head 'Capital Gain' - gain of depreciable assets by entering into...

Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

ITAT ruled on long-term capital gains from unlisted shares under India-Mauritius DTAA, specifically addressing loss carry-forward without offsetting against capital...

Set off the business losses against the capital gains u/s 71 - The assessee in the return of income did not set off the business loss against the short term capital gain....

Mode and manner of set off of loss - loss from one head set off against other head of income - business loss should be first set off against income from house property...

Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

Disallowance of set off of brought forward loss from transfer of short-term capital asset against gains arising from transfer of long-term capital asset - provisions of...

Non setting off the short term capital gain against long term capital loss brought forward - There is merit in the contentions of the appellant that prior to amendment...

Set off of loss from assets on which depreciation was claimed - under section 74(1)(b) the assessee is entitled to the claim of set off of long term capital loss against...

Quick Updates: