Loss from taxable asset cannot be set off against taxable gain.
Saturday International Tax Gyan!! (SITG – 248) #taxmadeeasy #taxinpic TVF Fund Ltd. Vs. Deputy Commissioner of Income-tax, International Tax [2025] 171 taxmann.com 349 (Mumbai – Trib.)[23-01-2025] Capital Gain On shares/ derivatives acquired prior to 1-4-2017 will be exempt under Article 13(3) and Article 13(4) of India-Mauritius DTAA and loss cannot be adjusted against such profit