banner_ad

MAT

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 July 2009 An assessee has Short Term Capital Gain of Rs. 15,00,000 in A.Y. 2009-10. He has Brought Forward Short Term Capital Loss from A.Y. 2008-09. Can he set off loss against gain for the purpose of computing book profit u/s 115JB. Is there any provision as such in the Income Tax Act or any relevant case law. If yes, please let me know as soon as possible.
Profile Image

Abhishek Mohta

Profile Image

Abhishek Mohta (Expert)
29 July 2009 sec 115JB refers to MAT. It provides the alternative way of computing profits and gains from business or profession if there is a loss as pe normal provisions.

However, STCG is not covered by the provisions of sec. 115JB.

The short term losses from a.y. 2008-09 can be set off against STCG of a.y. 2009-10 as per sec. 74.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
ARTICLESHIP 27 April 2026
CA Articled Assistant

GM Corporate Solutions

Noida

CA Final

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 April 2026
Chartered Accountant

Source HR

Mumbai

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details