https://www.taxtmi.com/caselaws?id=240862 The Tribunal dismissed the Revenue's appeal, affirming the allowance of set off of brought forward Long Term Capital loss against Long Term capital gain from the sale of a depreciable asset. The decision was based on the interpretation of Sec. 50 of the Income Tax Act and relevant judicial decisions, emphasizing that the deeming fiction under section 50 is limited to the computation of capital gains. en-us Wed, 13 Feb 2013 00:00:00 +0530 Fri, 13 Dec 2013 07:12:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240862 The Tribunal dismissed the Revenue's appeal, affirming the allowance of set off of brought forward Long Term Capital loss against Long Term capital gain from the sale of a depreciable asset. The decision was based on the interpretation of Sec. 50 of the Income Tax Act and relevant judicial decisions, emphasizing that the deeming fiction under section 50 is limited to the computation of capital gains. Case-Laws Income Tax Wed, 13 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240862