https://www.taxtmi.com/caselaws?id=301884 The department's appeal challenging the set off of short-term capital loss (STT paid) against short-term capital gain (non-STT paid) under Section 70(2) of the Income Tax Act was dismissed by the ITAT. The ITAT upheld the CIT(A)'s decision, allowing the assessee's method of setting off losses, emphasizing the assessee's discretion in such matters. Previous ITAT decisions and consistent interpretations by coordinate benches supported the assessee's position, leading to the dismissal of the department's appeal. en-us Fri, 08 Aug 2014 00:00:00 +0530 Mon, 25 Apr 2022 20:44:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301884 The department's appeal challenging the set off of short-term capital loss (STT paid) against short-term capital gain (non-STT paid) under Section 70(2) of the Income Tax Act was dismissed by the ITAT. The ITAT upheld the CIT(A)'s decision, allowing the assessee's method of setting off losses, emphasizing the assessee's discretion in such matters. Previous ITAT decisions and consistent interpretations by coordinate benches supported the assessee's position, leading to the dismissal of the department's appeal. Case-Laws Income Tax Fri, 08 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301884