https://www.taxtmi.com/caselaws?id=58952 The Tribunal ruled in favor of the assessee, holding that the deduction under section 80T for long-term capital gains should be calculated based on the long-term capital gain before setting off any losses. The Tribunal emphasized that when two interpretations are possible, the one favoring the taxpayer should be preferred. Consequently, the Tribunal allowed the appeal, determining that the assessee was entitled to succeed in the dispute over the calculation of the deduction under section 80T for long-term capital gains. en-us Tue, 09 Mar 1982 00:00:00 +0530 Thu, 23 Dec 2010 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58952 The Tribunal ruled in favor of the assessee, holding that the deduction under section 80T for long-term capital gains should be calculated based on the long-term capital gain before setting off any losses. The Tribunal emphasized that when two interpretations are possible, the one favoring the taxpayer should be preferred. Consequently, the Tribunal allowed the appeal, determining that the assessee was entitled to succeed in the dispute over the calculation of the deduction under section 80T for long-term capital gains. Case-Laws Income Tax Tue, 09 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58952