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TRIBUNALS AND FORUMS

Mumbai ITAT: Losses of One Eligible Unit Need Not Be Set Off Against Profits of Another Under Section 80-IB

Post By 24law
December 15, 2024

The Mumbai Income Tax Appellate Tribunal (ITAT) has ruled that for the purpose of claiming deductions under Section 80-IB of the Income Tax Act, 1961, an industrial undertaking is not required...

TRIBUNALS AND FORUMS

Mumbai ITAT: Genuine Short-Term Capital Loss Can Be Set Off Against Long-Term Capital Gain

Post By 24law
December 15, 2024

In a notable ruling, the Mumbai Income Tax Appellate Tribunal (ITAT) has clarified that short-term capital losses arising from the sale of shares can be set...