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Taxpayer Permitted to Offset STCA Loss Against STCG u/s 70 of Income Tax Act.

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Full Text of the Document

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....Whether the assessee is entitled to adjust the loss on short term capital assets (STCA) arising on one set of transactions, i.e., 'on market transactions', with the short term capital gain (STCG) arising to it on another set of transactions, i.e., 'off market transactions u/s 70 - Held yes - AT....