Set off of short term capital loss [STT paid] is allowed against STCG [STT not paid]

iShares ESG Aware MSCI ETF Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that short-term capital loss [STCL] on which STT is paid [which is taxable at 15% u/s. 111A of the Income Tax Act] can be set off against short-term capital gains [STCG] on which STT is not paid [which is taxable at 30% u/s. 115AD].

Facts- The assessee is a company incorporated in Mauritius, and is registered with the Securities and Exchange Board of India as a Foreign Portfolio Investor. During the assessment proceedings, AO observed that the assessee set off the short-term

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