https://www.taxtmi.com/caselaws?id=397565 The Tribunal condoned the delay in filing the appeal, emphasizing a liberal approach in considering justifiable reasons for delays. Regarding the carry forward of long-term capital loss on STT-paid transactions, the Tribunal held that losses from exempt sources, including those under Section 10(38), cannot be set off or carried forward. The appellant's argument that only specific income from such transactions is exempt was rejected, affirming the decisions of the Assessing Officer and Commissioner of Income Tax (Appeals). The appeal was dismissed based on the principle that "income" includes "loss" from exempt sources. en-us Mon, 17 Aug 2020 00:00:00 +0530 Tue, 28 Jul 2026 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397565 The Tribunal condoned the delay in filing the appeal, emphasizing a liberal approach in considering justifiable reasons for delays. Regarding the carry forward of long-term capital loss on STT-paid transactions, the Tribunal held that losses from exempt sources, including those under Section 10(38), cannot be set off or carried forward. The appellant's argument that only specific income from such transactions is exempt was rejected, affirming the decisions of the Assessing Officer and Commissioner of Income Tax (Appeals). The appeal was dismissed based on the principle that "income" includes "loss" from exempt sources. Case-Laws Income Tax Mon, 17 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397565