Under section 71 assessee have option to set off losses against capital gains and it is not mandatory
October 24, 2018
Income Tax, ITAT
Under section 71 assessee have option to set off losses against capital gains and the set off is not mandatory as revealed by legislative history – ITAT ABCAUS Case Law Citation: ABCAUS 2592 (2018) (10) ITAT Important Case Laws Cited/relied upon: Coated Fabrics (P) Ltd. vs JCIT’ 285 …