Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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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