https://www.taxtmi.com/caselaws?id=67467 The Appellate Tribunal ITAT Jaipur ruled in favor of the assessee in a case involving the set off of short term capital loss against income from other sources for the assessment year 1985-86. The Tribunal interpreted sections 70(2)(i) and 71(3) of the Income-tax Act, allowing the assessee to set off the loss against income from other sources rather than against long term capital gains. Emphasizing the separate rights conferred on the assessee by the provisions and adopting an interpretation beneficial to the assessee, the Tribunal overturned the decisions of the lower authorities and allowed the appeal. en-us Tue, 20 Nov 1990 00:00:00 +0530 Thu, 10 Mar 2011 17:19:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67467 The Appellate Tribunal ITAT Jaipur ruled in favor of the assessee in a case involving the set off of short term capital loss against income from other sources for the assessment year 1985-86. The Tribunal interpreted sections 70(2)(i) and 71(3) of the Income-tax Act, allowing the assessee to set off the loss against income from other sources rather than against long term capital gains. Emphasizing the separate rights conferred on the assessee by the provisions and adopting an interpretation beneficial to the assessee, the Tribunal overturned the decisions of the lower authorities and allowed the appeal. Case-Laws Income Tax Tue, 20 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67467