https://www.taxtmi.com/caselaws?id=765118 Capital losses arising from shares acquired after 01.04.2017 could not be netted against capital gains that were exempt in India under the pre-amended India-Mauritius DTAA, because gains not chargeable to tax in India do not form part of the total income against which losses can be set off. The Tribunal treated the exempt gains from shares and derivatives acquired before 01.04.2017 as governed by Article 13(3)/(4) of the pre-amended treaty, while the losses arose under a different tax regime. It therefore rejected the Assessing Officer's computation and held that the brought forward and current losses were to be carried forward under section 74(1) without set-off against the exempt gains. en-us Thu, 23 Jan 2025 00:00:00 +0530 Sat, 25 Jan 2025 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765118 Capital losses arising from shares acquired after 01.04.2017 could not be netted against capital gains that were exempt in India under the pre-amended India-Mauritius DTAA, because gains not chargeable to tax in India do not form part of the total income against which losses can be set off. The Tribunal treated the exempt gains from shares and derivatives acquired before 01.04.2017 as governed by Article 13(3)/(4) of the pre-amended treaty, while the losses arose under a different tax regime. It therefore rejected the Assessing Officer's computation and held that the brought forward and current losses were to be carried forward under section 74(1) without set-off against the exempt gains. Case-Laws Income Tax Thu, 23 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765118