https://www.taxtmi.com/caselaws?id=55735 The Tribunal dismissed the grounds related to deletion of interest and income from the trust, aligning with a previous order. Regarding the deduction under section 80T, the High Court held that it should be based on gross long-term capital gains without deducting short-term losses. The Tribunal directed the modification of the assessment. The revenue's appeal for adjusting short-term losses was rejected, clarifying the legal position on set-off and relief under section 80T. The Tribunal partially allowed the revenue's appeal, remanding the matter for reconsideration in line with the law. en-us Tue, 30 Sep 1986 00:00:00 +0530 Mon, 29 Nov 2010 17:19:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55735 The Tribunal dismissed the grounds related to deletion of interest and income from the trust, aligning with a previous order. Regarding the deduction under section 80T, the High Court held that it should be based on gross long-term capital gains without deducting short-term losses. The Tribunal directed the modification of the assessment. The revenue's appeal for adjusting short-term losses was rejected, clarifying the legal position on set-off and relief under section 80T. The Tribunal partially allowed the revenue's appeal, remanding the matter for reconsideration in line with the law. Case-Laws Income Tax Tue, 30 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55735