2004 (11) TMI 91

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... tal gains, arrived at after setting off the long-term capital loss on the shares arising during the same previous year?" - we answer the aforesaid questions referred to us in the negative, i.e., in favour of the Revenue and against the assessee. - - - - - Dated:- 19-11-2004 - Judge(s) : R. K. AGRAWAL., PRAKASH KRISHNA. JUDGMENT The Income-tax Appellate Tribunal, Allahabad, has referred the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... thus after adding the income from property amounted to Rs. 4,28,085. The Income-tax Officer allowed the relief under section 80T of the Act on the net income. However, in further appeal, the Tribunal has accepted the claim of the respondents and it held that relief under section 80T of the Act is admissible on the entire amount of capital gain arising from the sale of building after allowing long .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X