Set off of brought forward business loss and brought forward ...

Tax Court Allows Set-Off of Long-Term Capital Loss Against Gains, Despite Section 50 Short-Term Deeming Fiction.

April 20, 2019

Case Laws Income Tax AT

Set off of brought forward business loss and brought forward long term capital loss - capital gains computed u/s 50 is be deemed to be short-term capital gains and this deeming fiction is restricted only for Section 50 but the benefit of set off of long term capital loss u/s 74 is to be allowed

View Source

← Previous Next →

Set off of brought forward business loss and brought forward ...

Tax Court Allows Set-Off of Long-Term Capital Loss Against Gains, Despite Section 50 Short-Term Deeming Fiction.

April 20, 2019

Case Laws Income Tax AT

You may also like:

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...

Non setting off carried forward business loss against the Capital Gain computed u/s 50 - sale of depreciable assets - legal fiction is to be deemed the capital gain as...

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...

Revision u/s 263 by CIT - set off of brought forward business loss from the income assessable under the head 'Capital Gain' - gain of depreciable assets by entering into...

Set off the business losses against the capital gains u/s 71 - The assessee in the return of income did not set off the business loss against the short term capital gain....

Set off of loss from assets on which depreciation was claimed - under section 74(1)(b) the assessee is entitled to the claim of set off of long term capital loss against...

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...

Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by...

Disallowance of set off of brought forward loss from transfer of short-term capital asset against gains arising from transfer of long-term capital asset - provisions of...

Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

Assessee has rightly claimed short term capital loss which is eligible to be set off against long term capital gain and the impugned transaction is neither “sham” nor...

Capital gains u/s 50 arising from the sale of long-term capital assets, though deemed as short-term capital gains, should be taxed at the rates applicable to long-term...

Quick Updates: