Setoff of short term capital loss on shares

This query is : Resolved

CA Govind Sokhi (Querist)
Follow

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)
Follow

19 October 2012 yes, you can set off it.

Message likes : 1 times

CA Govind Sokhi

CA Govind Sokhi (Querist)
Follow

19 October 2012 Sir ,can u please refer me a case law related to such treatment.i will be much grateful

Upgrade to CAclubindia Pro. Subscribe Now!

CA Govind Sokhi

CA Govind Sokhi (Querist)
Follow

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.