Denial of carry forward of long term capital loss - When the he ...

Case Laws Income Tax

October 30, 2021

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 u/s. 94(7) of the Act, definitely, in our opinion, the AO should have allowed carry forward of differential amount under long term capital loss and for denying the same, in our opinion, is not justified. Therefore, we direct the AO to allow carry forward the difference of amount. - AT

View Source

← Previous Next →

Denial of carry forward of long term capital loss - When the he ...

Case Laws Income Tax

October 30, 2021

You may also like:

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...

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...

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...

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...

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....

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...

The assessee, a Foreign Portfolio Investor registered in India, entered into Forward Foreign Exchange Contracts (FCC) with HDFC Bank to safeguard against foreign...

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...

Carried forward of loss determined under section 74 read with section 80 - long-term capital loss - As the assessee filed its original return declaring the positive...

Set off and carried forward of long-term capital loss against the long-term capital gain - if the loss arising in the previous year was under a head not chargeable to...

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...

Transfer of capital asset by a company to its subsidiary company - Long term capital gain v/s long term capital loss - transaction cannot be regarded as transfer u/s...

Carry forward of long term capital loss incurred on sale of listed securities while claiming exemptions u/s 10(38) on profits - AO directed to assess the long term...

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...

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...

Quick Updates: