Capital gains on sale of capital assets is not to be set off ...
Capital gains can't offset carried forward losses; only business losses are eligible u/s 72 of the Income Tax Act.
July 8, 2016
Case Laws Income Tax AT
Capital gains on sale of capital assets is not to be set off against the brought forward loss of earlier years. Only the business loss can be carried forward u/s 72 of the Act and it can also be set off only against the business income of the assessee - AT
View Source