Capital gain tax

Dear Sir,

The person whose property is sold by the bank can set off the business loss against the capital gain. 

Dear Sir,

Is there any judgements or case laws related to this issue?

Thank You.

sir 

there is no need for case laws, you may go through the chapter of Set off and carry corward of losses. I guess it clear the doubts.

Sir,

I have another issue. 

A person is a shareholder in a Public Limited company and he has given his property as a Guarantee for a Bank loan obtained for the company. The company becomes insolvent and it cannot pay the bank loan. So the property of the said person is sold and the bank loan is discharged. The property is sold only because the company is unable to pay the loan.

In this case will the Capital Gain of the individual be set off against the Business Loss of the Corporate?

Thank You. 

i dont think there would be any change in the treatment.

Yes, answer to your query remains same, capital gain from the sell of property will be set off against the business loss whether he is a shareholder or a partner of the company.

Thanking You