https://www.taxtmi.com/caselaws?id=306964 Brought forward short-term and long-term capital losses could not be adjusted against capital gains exempt from Indian tax under the India-Mauritius treaty. Once the current-year gains were not chargeable to tax in India by virtue of treaty exemption, there was no basis to first set off earlier carried-forward losses against those exempt gains. Losses already determined and permitted to be carried forward in prior assessments remained available for carry forward without reduction, and the same principle applied to both short-term and long-term capital losses. en-us Fri, 29 Apr 2022 00:00:00 +0530 Fri, 10 Mar 2023 08:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306964 Brought forward short-term and long-term capital losses could not be adjusted against capital gains exempt from Indian tax under the India-Mauritius treaty. Once the current-year gains were not chargeable to tax in India by virtue of treaty exemption, there was no basis to first set off earlier carried-forward losses against those exempt gains. Losses already determined and permitted to be carried forward in prior assessments remained available for carry forward without reduction, and the same principle applied to both short-term and long-term capital losses. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306964