Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
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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