A taxpayer has won a significant victory in the Bombay High Court. The court allowed the set-off of short-term capital loss against long-term capital gains. The tax department's addition of Rs 5.43 crore as unexplained cash credit and undisclosed long-term capital gains was deleted. The High Court emphasized consistency, noting similar relief granted to the taxpayer's father and brother.
from Tax-Wealth-Economic Times https://ift.tt/i1oPcLp
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