Monday, August 5, 2013

HC upholds long term capital gain exemption prior to set off of long term capital loss

HC upholds long term capital gain exemption prior to set off of long term capital loss

Issue- Whether while computing the capital gain, exemption available under the head Capital Gain should be given effect and then only the provisions for set off and carry forward of losses should be applied under the Act? Facts :- It is seen from the facts narrated that the assessee herein made a long term capital [..

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