https://www.taxtmi.com/caselaws?id=17487 The High Court ruled in favor of the assessee, determining that the relief under section 80T should be calculated on the entire long-term capital gains without adjusting for short-term losses. The Court emphasized that deductions under section 80T should be based solely on long-term capital gains, in line with the Supreme Court's precedent. Additionally, the Court confirmed that the set off of short-term capital loss against income under any head other than 'capital gains' was permissible under sections 70 and 71 of the Income-tax Act. The Tribunal's decision was upheld, and the reference was disposed of with no order as to costs. en-us Wed, 03 Sep 1997 00:00:00 +0530 Tue, 22 Sep 2009 16:46:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17487 The High Court ruled in favor of the assessee, determining that the relief under section 80T should be calculated on the entire long-term capital gains without adjusting for short-term losses. The Court emphasized that deductions under section 80T should be based solely on long-term capital gains, in line with the Supreme Court's precedent. Additionally, the Court confirmed that the set off of short-term capital loss against income under any head other than 'capital gains' was permissible under sections 70 and 71 of the Income-tax Act. The Tribunal's decision was upheld, and the reference was disposed of with no order as to costs. Case-Laws Income Tax Wed, 03 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17487