Home Highlights April 2016 Year 2016 This

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1. Set off of losses - Merely because the two set of transactions are liable for different rate of tax, it cannot be said that income from these transactions does not arise...

2. Disallowance of set off of Loss - sale of equity shares (STT) - short-term capital gains (STCG) on sale of derivatives and short-term capital loss (STCL) - The Tribunal...

3. Short Term Capital Loss (on which STT was paid) set off against the Short Term Capital Gain (on which STT is not paid) - Section 70(2) of the Act does not make any...

4. 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...

5. Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of...

6. Disallowance on account of setting of STCG against depreciation - carry forward of unabsorbed depreciation - set off allowed.

7. Whether the assessee is entitled to adjust the loss on short term capital assets (STCA) arising on one set of transactions, i.e., 'on market transactions', with the...

8. Set off of loss incurred on sale of polished diamond goods against deemed income assessed u/s. 69A - set off against the income declared during the course of search -...

9. Disallowing the NCDEX Trading Loss - Speculation Loss - It is not in dispute that the assessee's transactions in agricultural commodity derivative were otherwise...

10. Beneficial provisions of the India-Mauritius DTAA in respect of STCG - carry forward the LTCL as per section 74 of the Act - Gains / losses arising from different...

11. Speculative transactions - set off of the loss - transaction in derivatives on recognized stock exchange as defined under Section 43 (5) (d) of the Income Tax Act, 1961...

12. STT - anomaly with regard to STT payable on future transactions - Once CBDT has clarified the position, all stake holders are now aware as to what is the amount of STT...

13. Set-off of current year losses against the addition made u/s 68 - going through sub-Section (2) of Section 115BBE of the Act, the words “set off of any loss” appearing...

14. 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...

15. Set off of loss brought forward losses - conditions of 51% shareholding - the assessee is not seeking carry forward of losses to be set off but the assessee is seeking...