2019 (11) TMI 1708

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....ER S.S. VISWANETHRA RAVI, JM : The above said two appeals by the Revenue and assessee filed against separate orders dated 28.02.2017 and 27.02.2017 passed by the Commissioner of Income Tax (Appeals)-III, Pune ["CIT(A)‟] for assessment years 2013-14 and 2012-13, respectively. 2. The only issue emanating from both the appeals whether set off of Long Term Capital Gains (LTCG) is allowed again....

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....es u/s 143(2) and 142(1) of the Act were issued, in response to which authorized representative on behalf of the assessee appeared before the Assessing Officer and filed required details. 6. We find that the assessee claimed set off of Long Term Capital Gains arising from the sale of flat in Mumbai against brought forward capital loss arising from sale of shares of public limited company listed i....

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....ted order dated 08-03-2019 in the case of Shri Somnath Vaijanath Sakre in ITA No.2986/PUN/2016 and ITA No.2605/PUN/2016 for assessment year 2012-13 held that the assessee therein is entitled to set off loss of Long Term Capital Gains from the shares on which security transaction is paid or payable against the Long Term Capital Gains earned from shares on which no security transaction is paid ....

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....e is allowed. 8. In the result, the appeal of assessee is allowed. 9. Next, we shall take up appeal in ITA No.1303/PUN/2017 filed by the Revenue for assessment year 2013-14. 10. We find grounds No.1 to 3 raised by the Revenue are similar to the ground No.1 raised by assessee in ITA No.1445/PUN/2017, wherein we decided the issue in favour of assessee in the aforementioned paragraphs. Therefore, ....