Sunday, January 8, 2012

Adjustment of short-term capital loss post 1-10-2004 against short-term capital

 
Adjustment of short-term capital loss post 1-10-2004 against short-term capital gain pre 1-10-2004
There is no bar in section 70 that short-term capital loss post 1-10-2004 cannot be set-off against short-term capital gain earned prior to that date. – Vide ITO v. Sonia Pankaj Razdan (2011) 42(II) ITCL 412(Mum-Trib)

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