https://www.taxtmi.com/caselaws?id=765784 Capital gains exempt under the India-Mauritius DTAA are treated as excluded from total income under section 90(2) and therefore do not enter the computation process for compulsory set-off against a separate long-term capital loss. On that basis, the loss arising from another share transaction remained eligible for carry forward under section 74, subject to the Act's conditions. The analysis applies the more beneficial treaty regime and the principle that income excluded from total income cannot be netted against loss for computation purposes. The Assessing Officer's adjustment was not sustained, and the assessee was entitled to carry forward the loss without setting off the exempt gains. en-us Wed, 29 Jan 2025 00:00:00 +0530 Mon, 10 Feb 2025 07:50:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765784 Capital gains exempt under the India-Mauritius DTAA are treated as excluded from total income under section 90(2) and therefore do not enter the computation process for compulsory set-off against a separate long-term capital loss. On that basis, the loss arising from another share transaction remained eligible for carry forward under section 74, subject to the Act's conditions. The analysis applies the more beneficial treaty regime and the principle that income excluded from total income cannot be netted against loss for computation purposes. The Assessing Officer's adjustment was not sustained, and the assessee was entitled to carry forward the loss without setting off the exempt gains. Case-Laws Income Tax Wed, 29 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765784