https://www.taxtmi.com/caselaws?id=185266 The High Court dismissed the Revenue's appeals for the assessment year 2002-03 regarding short-term capital loss on the sale of mutual funds after earning tax-free dividend income. The Court upheld the Tribunal's decision, allowing the short-term capital loss on mutual funds sale after receiving tax-free dividends. The Court emphasized that losses related to exempted income before April 1, 2002, cannot be disallowed. Both appeals were ruled in favor of the assessee, affirming the legality of claiming such losses. en-us Wed, 17 Dec 2014 00:00:00 +0530 Fri, 05 Aug 2016 16:36:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185266 The High Court dismissed the Revenue's appeals for the assessment year 2002-03 regarding short-term capital loss on the sale of mutual funds after earning tax-free dividend income. The Court upheld the Tribunal's decision, allowing the short-term capital loss on mutual funds sale after receiving tax-free dividends. The Court emphasized that losses related to exempted income before April 1, 2002, cannot be disallowed. Both appeals were ruled in favor of the assessee, affirming the legality of claiming such losses. Case-Laws Income Tax Wed, 17 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185266