The Mumbai ITAT held that the exemption under Section 54F must be applied before invoking set-off provisions under Section 70(3). Consequently, the assessee was allowed to carry forward the long-term capital loss distinctly.
ITAT Allows Carry Forward of LTCG Loss as Section 54F Exemption Must Be Applied First
The Mumbai ITAT held that the exemption under Section 54F must be applied before invoking set-off provisions under Section 70(3). Consequently, the assessee was allowed to carry forward the long-term capital loss distinctly.
Citations
- ITAT Mumbai (2026) TaxGuru Page N/A
Source:taxguru.in