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Ltcg/ltcl

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 June 2015 Raptakos Brett & Co. Ltd vs. DCIT (ITAT Mumbai) in this case what is the interpretation of the judgement kindly explain
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Adv. Rajesh Chhangani

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Adv. Rajesh Chhangani (Expert)
22 June 2015 Though the LTCG on sale of equity shares (subject to STT) is exempt from tax u/s 10(38), the long-term capital loss on sale of such shares can be set-off against the taxable LTCG on sale of another asset. (Read Sec 70(3) for more clarification)
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