https://www.taxtmi.com/caselaws?id=29057 The High Court of Madras ruled against the assessee in a case involving a claim for relief under section 80T of the Income Tax Act, 1961. The court held that relief under section 80T is only applicable when there is positive income under the head 'Long-term capital gains.' Despite the net loss incurred by the assessee from the sale of shares and gains from real property, the court determined that the relief was not applicable in this scenario. The Department was awarded costs, including counsel's fee of Rs. 500, from the assessee. en-us Mon, 04 Jan 1982 00:00:00 +0530 Wed, 10 Mar 2010 15:27:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29057 The High Court of Madras ruled against the assessee in a case involving a claim for relief under section 80T of the Income Tax Act, 1961. The court held that relief under section 80T is only applicable when there is positive income under the head 'Long-term capital gains.' Despite the net loss incurred by the assessee from the sale of shares and gains from real property, the court determined that the relief was not applicable in this scenario. The Department was awarded costs, including counsel's fee of Rs. 500, from the assessee. Case-Laws Income Tax Mon, 04 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29057