https://www.taxtmi.com/caselaws?id=791252 Long-term capital loss can be carried forward without first being set off against a long-term capital gain eligible for exemption under section 54F. The computation provisions in sections 45 to 55A apply before the set-off mechanism in section 70(3), so an exempt capital gain is not required to be reduced to absorb a separate long-term capital loss. The exemption under section 54F takes precedence over the carry-forward set-off exercise. The issue was decided in favour of the assessee, and carry forward of the long-term capital loss was held allowable. en-us Wed, 15 Apr 2026 00:00:00 +0530 Fri, 08 May 2026 07:29:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791252 Long-term capital loss can be carried forward without first being set off against a long-term capital gain eligible for exemption under section 54F. The computation provisions in sections 45 to 55A apply before the set-off mechanism in section 70(3), so an exempt capital gain is not required to be reduced to absorb a separate long-term capital loss. The exemption under section 54F takes precedence over the carry-forward set-off exercise. The issue was decided in favour of the assessee, and carry forward of the long-term capital loss was held allowable. Case-Laws Income Tax Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791252