https://www.taxtmi.com/caselaws?id=778624 ITAT MUMBAI held that the assessing officer erred in denying set-off of short-term capital loss (STCL) taxed at 15% against short-term capital gain (STCG) taxed at 30%. Relying on Calcutta HC precedent and earlier ITAT rulings, the tribunal applied the principle that, where the Act provides no specific mode of set-off, the assessee may choose the most beneficial set-off. The ground challenging refusal of set-off was allowed and the AO's disallowance was set aside. en-us Fri, 17 Jan 2025 00:00:00 +0530 Wed, 17 Sep 2025 18:41:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778624 ITAT MUMBAI held that the assessing officer erred in denying set-off of short-term capital loss (STCL) taxed at 15% against short-term capital gain (STCG) taxed at 30%. Relying on Calcutta HC precedent and earlier ITAT rulings, the tribunal applied the principle that, where the Act provides no specific mode of set-off, the assessee may choose the most beneficial set-off. The ground challenging refusal of set-off was allowed and the AO's disallowance was set aside. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778624