Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
ITAT held that short-term capital loss incurred from shares with paid Securities Transaction Tax (STT) can be set off against short-term capital gains, irrespective of whether STT was paid on the gains. Section 70(2) permits set-off of capital loss against gains from any capital asset without distinguishing between STT-paid and STT-unpaid transactions. Following precedents in iShares MSCI EM UCITS ETF and Rungamatee Trexim, the tribunal directed the Assessing Officer to accept the assessee's computation methodology, allowing the set-off and consequently granting relief in the appeal.
ITAT held that short-term capital loss incurred from shares with paid Securities Transaction Tax (STT) can be set off against short-term capital gains, irrespective of whether STT was paid on the gains. Section 70(2) permits set-off of capital loss against gains from any capital asset without distinguishing between STT-paid and STT-unpaid transactions. Following precedents in iShares MSCI EM UCITS ETF and Rungamatee Trexim, the tribunal directed the Assessing Officer to accept the assessee's computation methodology, allowing the set-off and consequently granting relief in the appeal.
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