https://www.taxtmi.com/caselaws?id=251327 The tribunal upheld the Assessing Officer's computation of short-term capital gains, rejecting the assessee's claim to reduce the sale price by an additional amount. Additionally, the tribunal ruled that business losses must be set off against capital gains in the same assessment year, dismissing the assessee's argument to carry forward losses without offsetting them. The appeal was dismissed, affirming the strict application of the Income Tax Act's provisions on capital gains and losses. en-us Wed, 11 Jun 2014 00:00:00 +0530 Thu, 11 Sep 2014 07:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251327 The tribunal upheld the Assessing Officer's computation of short-term capital gains, rejecting the assessee's claim to reduce the sale price by an additional amount. Additionally, the tribunal ruled that business losses must be set off against capital gains in the same assessment year, dismissing the assessee's argument to carry forward losses without offsetting them. The appeal was dismissed, affirming the strict application of the Income Tax Act's provisions on capital gains and losses. Case-Laws Income Tax Wed, 11 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251327