Setoff of short term capital loss on shares
This query is : Resolved
CA Govind Sokhi
(Querist)
19 October 2012
Can anyone suggest and provide the relevant Case law as to setoff of short term capital loss against Long term capital gains.As per IT law, an assessee is eligible to set off stcl in case of securities against LTCG on sale of an asset.however to be more specific,i am looking for a specific Case law in this regard.
CA Navin Jain
(Expert)
19 October 2012
yes, you can set off it.
Message likes :
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CA Govind Sokhi
(Querist)
19 October 2012
Sir ,can u please refer me a case law related to such treatment.i will be much grateful
CA Govind Sokhi
(Querist)
19 October 2012
Or if its not possible to look for a sepecific case law, if there is any specific release from IT in this respect ,i would appreciate if u forward me that.
CA Pooja Agarwal
(Expert)
19 October 2012
pls refer section 74 of the income tax act
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