ITAT held that short-term capital loss incurred from shares with ...

Capital Loss Offset Allowed: STT-Paid Shares Can Neutralize Short-Term Gains Under Section 70(2) Interpretation

May 27, 2025

Case Laws Income Tax AT

ITAT held that short-term capital loss incurred from shares with paid Securities Transaction Tax (STT) can be set off against short-term capital gains, irrespective of whether STT was paid on the gains. Section 70(2) permits set-off of capital loss against gains from any capital asset without distinguishing between STT-paid and STT-unpaid transactions. Following precedents in iShares MSCI EM UCITS ETF and Rungamatee Trexim, the tribunal directed the Assessing Officer to accept the assessee's computation methodology, allowing the set-off and consequently granting relief in the appeal.

View Source

← Previous Next →

ITAT held that short-term capital loss incurred from shares with ...

Capital Loss Offset Allowed: STT-Paid Shares Can Neutralize Short-Term Gains Under Section 70(2) Interpretation

May 27, 2025

Case Laws Income Tax AT

You may also like:

The ITAT held that under section 70(2), short-term capital loss paid with STT can be set off against short-term capital gains not subject to STT, without further...

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

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...

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...

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...

Denial of carry forward of long term capital loss - When the he taxed the difference in amount under short term capital gain and also disallowed short term capital loss...

Disallowance on Short term capital loss – assessee cannot incur short term capital loss by purchasing fresh shares at an inflated rate and to sell it out at a nominal rate - AT

The ITAT held that u/s 10(38), only long term capital gain from sale of shares/securities is exempt, not the entire source. Citing Royal Calcutta Turf Club case, it...

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...

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

Short term capital loss cannot be disallowed merely due to shares being sold at a loss within a short span after acquisition. An intervening legal transaction cannot be...

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...

Disallowance of capital loss on account of capital reduction scheme - Extinguishment of rights in shares - definition of ‘transfer’ u/s 2(47) - Loss arising to the...

Taxation of capital gains proposed to be rationalized and simplified. Holding periods reduced to two categories: 12 months for listed securities, 24 months for other...

Nature of loss - short term capital loss or revenue loss - loss incurred on capital contribution in joint venture - short term capital loss adjustment against the...

Quick Updates: