https://www.taxtmi.com/highlights?id=88363 The ITAT held that under section 70(2), short-term capital loss paid with STT can be set off against short-term capital gains not subject to STT, without further classification. Referencing prior judicial precedents, the tribunal found the Assessing Officer erroneously added short-term capital gains already computed by the assessee. The tribunal directed the AO to correctly calculate the assessee's income and levy tax accordingly, allowing the assessee's appeal grounds 1-4 and confirming the setoff of capital losses across different STT scenarios. en-us Wed, 14 May 2025 07:48:07 +0530 Wed, 14 May 2025 07:48:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88363 The ITAT held that under section 70(2), short-term capital loss paid with STT can be set off against short-term capital gains not subject to STT, without further classification. Referencing prior judicial precedents, the tribunal found the Assessing Officer erroneously added short-term capital gains already computed by the assessee. The tribunal directed the AO to correctly calculate the assessee's income and levy tax accordingly, allowing the assessee's appeal grounds 1-4 and confirming the setoff of capital losses across different STT scenarios. Highlights Income Tax Wed, 14 May 2025 07:48:07 +0530 https://www.taxtmi.com/highlights?id=88363