https://www.taxtmi.com/caselaws?id=795330 Timely declared and determined short-term and long-term capital losses create an entitlement to carry forward and set-off under the applicable loss provisions. Omission of a carried-forward short-term capital loss from the Schedule CFL in an intervening return is described as a procedural lapse that does not affect the genuineness or determination of losses in the year incurred, or extinguish the substantive entitlement. Accordingly, losses determined for the earlier assessment year may be carried forward and set off against eligible capital gains in the relevant year. en-us Mon, 15 Jun 2026 00:00:00 +0530 Tue, 21 Jul 2026 08:32:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795330 Timely declared and determined short-term and long-term capital losses create an entitlement to carry forward and set-off under the applicable loss provisions. Omission of a carried-forward short-term capital loss from the Schedule CFL in an intervening return is described as a procedural lapse that does not affect the genuineness or determination of losses in the year incurred, or extinguish the substantive entitlement. Accordingly, losses determined for the earlier assessment year may be carried forward and set off against eligible capital gains in the relevant year. Case-Laws Income Tax Mon, 15 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795330