https://www.taxtmi.com/caselaws?id=771522 ITAT Mumbai held that short-term capital losses on STT-paid share transactions can be set off against short-term capital gains on non-STT transactions. Section 70(2) permits set-off of short-term capital loss against gains from any capital asset without distinguishing between STT-paid and non-STT transactions. Following precedents from iShares MSCI EM UCITS ETF and Rungamatee Trexim, the tribunal directed the AO to accept the assessee's capital gains computation methodology, allowing the appeal. en-us Fri, 23 May 2025 00:00:00 +0530 Tue, 27 May 2025 08:32:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771522 ITAT Mumbai held that short-term capital losses on STT-paid share transactions can be set off against short-term capital gains on non-STT transactions. Section 70(2) permits set-off of short-term capital loss against gains from any capital asset without distinguishing between STT-paid and non-STT transactions. Following precedents from iShares MSCI EM UCITS ETF and Rungamatee Trexim, the tribunal directed the AO to accept the assessee's capital gains computation methodology, allowing the appeal. Case-Laws Income Tax Fri, 23 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771522