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TMI Blog2018 (6) TMI 1800X X X X Extracts X X X X X X X X Extracts X X X X ..... ngkong) Ltd. [ 2009 (7) TMI 908 - ITAT MUMBAI ], Fidelity Investment Trust Fidelity Overseas Fund [ 2009 (8) TMI 856 - ITAT MUMBAI ] and ADIT v. Legg Mason Asia (Ex Japan) Analyst Fund [ 2013 (11) TMI 361 - ITAT MUMBAI ] held that the assessee is entitled to set off STCL (STT paid) against STCG (non STT paid) transaction as computed during the year. Therefore, the assessing officer is directed to allow set off the STCG earned on (non STT) transaction. We have noted the ld. CIT(A) passed order by following the various orders of Tribunal, hence, we do not find any reasons to interfere with the order. No contrary decision was brought to our notice. Therefore, the ground of appeal raised by revenue is dismissed - Appeal filed by the reven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 172,469,061/- against the returned income of ₹ 806,01,145/-. Thereafter, the Assessing Officer passed order under section 154 of the Act on 21.11.2011. The Assessing Officer while passing the order under section 154 held that out of total Short Term Capital Gain (STCG) of ₹ 57,05,27,789/-, ₹ 24,22,29,033/- pertains to STCG on which Security Transaction Tax (STT) has been paid, hence, should have been taxed @ 10%. The remaining STCG of ₹ 54,63,04,976/- should have been taxed at the normal rate applicable for relevant Assessment Year. Aggrieved by the order passed by assessing officer under section 154, the assessee filed appeal before the ld. CIT(A), the assessee urged that there was no mistake apparent in the assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Fund v. ADIT [2010] (36 SOT 22) (Mum ITAT), ADIT v. Legg Mason Asia (Ex Japan) Analyst Fund [2013] 38 taxmann.com 12 (Mum Trib.). The ld. AR of the assessee filed copy of the decision in the form of legal paper book. It was further submitted that the Cross Objection is filed by assessee in support of order of ld. CIT(A) and incase the appeal of the revenue is dismissed the ground raised in Cross Objection by assessee would become academic. On the hand the ld. DR for the revenue relied on the order of the assessing officer. 5. We have considered the rival submissions of the parties and have gone through the orders of the authorities below. The assessing officer on his observation held that the assessee cannot set off the short term capi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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