Loss set-off rules restrict losses to be set off only within the same income head, with capital gains segregated. Set-off of losses is confined to incomes within the same head: losses from sources other than Capital gains may be set off against income from any other source under the same head. Short-term capital losses may be set off only against income from other short-term capital assets; losses from capital assets that are not short-term may be set off only against income from other non-short-term capital assets.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Loss set-off rules restrict losses to be set off only within the same income head, with capital gains segregated.
Set-off of losses is confined to incomes within the same head: losses from sources other than Capital gains may be set off against income from any other source under the same head. Short-term capital losses may be set off only against income from other short-term capital assets; losses from capital assets that are not short-term may be set off only against income from other non-short-term capital assets.
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