https://www.taxtmi.com/caselaws?id=772537 ITAT Mumbai allowed set-off of short-term capital loss (on which STT was paid) against short-term capital gains (on which STT was not paid), following precedent from iShares MSCI EM UCITS ETF USD ACC and Rungamatee Trexim (P.) Ltd. decisions. The tribunal rejected the appellant's hierarchy of set-off approach for short-term capital losses from share transactions. Additionally, the matter regarding short credit of taxes deducted at source was restored to the Assessing Officer for proper verification and credit allowance in accordance with law. en-us Fri, 06 Jun 2025 00:00:00 +0530 Tue, 10 Jun 2025 08:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772537 ITAT Mumbai allowed set-off of short-term capital loss (on which STT was paid) against short-term capital gains (on which STT was not paid), following precedent from iShares MSCI EM UCITS ETF USD ACC and Rungamatee Trexim (P.) Ltd. decisions. The tribunal rejected the appellant's hierarchy of set-off approach for short-term capital losses from share transactions. Additionally, the matter regarding short credit of taxes deducted at source was restored to the Assessing Officer for proper verification and credit allowance in accordance with law. Case-Laws Income Tax Fri, 06 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772537