Set-Off of LTCL & STCL Against LTCG Cannot Be Denied Merely Because Tax Rates Differ

Ira Sharma Vs DCIT (ITAT Delhi)

Set-Off of LTCL & STCL Against LTCG Cannot Be Denied Merely Because Tax Rates Differ—CPC & CIT(A) Misread Section 70; Entire Adjustment u/s 143(1) Deleted 

The Assessee filed return declaring ₹1,04,31,185, after setting off:

• B/f LTCL: ₹7,09,283,
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