Setoff of short term capital loss on shares

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CA Govind Sokhi (Querist)
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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

CA Navin Jain (Expert)
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19 October 2012 yes, you can set off it.

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CA Govind Sokhi

CA Govind Sokhi (Querist)
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19 October 2012 Sir ,can u please refer me a case law related to such treatment.i will be much grateful

CA Govind Sokhi

CA Govind Sokhi (Querist)
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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

CA Pooja Agarwal (Expert)
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19 October 2012 pls refer section 74 of the income tax act

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Setoff of short term capital loss on shares

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