https://www.taxtmi.com/caselaws?id=802027 Set-off of brought-forward business losses under Section 72 requires verification from departmental records that relevant returns were filed and that losses remain eligible and available for carry forward; this verification cannot recompute the quantum or character of losses determined in the year incurred. Section 50 deems capital gains on transfer of depreciable assets to be short-term only for computation. It does not change a qualifying depreciable immovable asset's long-term character for the Section 112 tax rate, subject to verification of the prescribed holding period. en-us Thu, 17 Sep 2026 00:00:00 +0530 Fri, 30 Oct 2026 08:12:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=802027 Set-off of brought-forward business losses under Section 72 requires verification from departmental records that relevant returns were filed and that losses remain eligible and available for carry forward; this verification cannot recompute the quantum or character of losses determined in the year incurred. Section 50 deems capital gains on transfer of depreciable assets to be short-term only for computation. It does not change a qualifying depreciable immovable asset's long-term character for the Section 112 tax rate, subject to verification of the prescribed holding period. Case-Laws Income Tax Thu, 17 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=802027