https://www.taxtmi.com/caselaws?id=291801 The tribunal ruled in favor of the assessee, allowing the set-off of the unabsorbed short term capital loss against the current year's income from short term capital gain. The tribunal emphasized that the provisions of the Income Tax Act allowed for the carry forward and set off of losses without specific conditions to disallow such benefits. The Assessing Officer's contention that the claim was not made during a statement recorded under section 132(4) was rejected, and the tribunal held that disallowing the set off was not justified. en-us Wed, 29 Jul 2020 00:00:00 +0530 Tue, 24 Nov 2020 20:23:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291801 The tribunal ruled in favor of the assessee, allowing the set-off of the unabsorbed short term capital loss against the current year's income from short term capital gain. The tribunal emphasized that the provisions of the Income Tax Act allowed for the carry forward and set off of losses without specific conditions to disallow such benefits. The Assessing Officer's contention that the claim was not made during a statement recorded under section 132(4) was rejected, and the tribunal held that disallowing the set off was not justified. Case-Laws Income Tax Wed, 29 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291801