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10h agoTaxpayer Reduces Taxable Income by Rs 25 Lakh: ITAT Delhi Clarifies LTCG Rules
The ITAT Delhi has ruled that long-term capital losses carried forward from previous years, along with current year's short-term capital losses from shares and mutual funds, can be set off against long term capital gains (LTCG). This ruling allowed a taxpayer to reduce his taxable income by Rs 25 lakh, overturning a tax department disallowance. The case involved Mr. Sharma from New Delhi, who had filed his income tax return (ITR) on July 5, 2023.
Tags:
- ITAT Delhi
- Tax Rules
neutral
10h agoTaxpayer Reduces Taxable Income by Rs 25 Lakh: ITAT Delhi Clarifies LTCG Rules
The ITAT Delhi has ruled that long-term capital losses carried forward from previous years, along with current year's short-term capital losses from shares and mutual funds, can be set off against long term capital gains (LTCG). This ruling allowed a taxpayer to reduce his taxable income by Rs 25 lakh, overturning a tax department disallowance. The case involved Mr. Sharma from New Delhi, who had filed his income tax return (ITR) on July 5, 2023.
Tags:
- ITAT Delhi
- Tax Rules
1 min read
76 words
ITAT Delhi allows set-off of carried forward LTCL and current year STCL against LTCG, reducing taxpayer's taxable income by Rs 25 lakh.
The ITAT Delhi has ruled that long-term capital losses carried forward from previous years, along with current year's short-term capital losses from shares and mutual funds, can be set off against long term capital gains (LTCG). This ruling allowed a taxpayer to reduce his taxable income by Rs 25 lakh, overturning a tax department disallowance. The case involved Mr. Sharma from New Delhi, who had filed his income tax return (ITR) on July 5, 2023.
The ITAT Delhi has ruled that long-term capital losses carried forward from previous years, along with current year's short-term capital losses from shares and mutual funds, can be set off against long term capital gains (LTCG). This ruling allowed a taxpayer to reduce his taxable income by Rs 25 lakh, overturning a tax department disallowance. The case involved Mr. Sharma from New Delhi, who had filed his income tax return (ITR) on July 5, 2023.
Tags:
- ITAT Delhi
- Tax Rules
- ITAT Delhi
- Tax Rules
- Capital Gains
- LTCG
- Taxable Income
- Income Tax
- Shares
- Mutual Funds
Dec 19, 2025 • 05:30