https://www.taxtmi.com/caselaws?id=242710 Commercial prudence in a share-swap transaction approved by the FIPB cannot be rejected merely on a subjective view, but the assessee must still substantiate the long-term capital loss claim with documentary evidence; the matter was remanded for limited verification of the cost of acquisition evidence. For set-off of capital losses, short-term capital loss from STT-paid transactions was held comparable with short-term capital gains from non-STT transactions because the statutory phrase "under similar computation made" refers to computation under the capital gains scheme, not to the rate structure. The set-off claim was allowed. en-us Wed, 10 Jul 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:49:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242710 Commercial prudence in a share-swap transaction approved by the FIPB cannot be rejected merely on a subjective view, but the assessee must still substantiate the long-term capital loss claim with documentary evidence; the matter was remanded for limited verification of the cost of acquisition evidence. For set-off of capital losses, short-term capital loss from STT-paid transactions was held comparable with short-term capital gains from non-STT transactions because the statutory phrase "under similar computation made" refers to computation under the capital gains scheme, not to the rate structure. The set-off claim was allowed. Case-Laws Income Tax Wed, 10 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242710