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[Cites 0, Cited by 48] [Section 70] [Entire Act]

Union of India - Subsection

Section 70(2) in The Income Tax Act, 1961

(2)Where the result of the computation made for any assessment year under sections 48 to 55 in respect of any short-term capital asset is a loss, the assessee shall be entitled to have the amount of such loss set off against the income, if any, as arrived at under a similar computation made for the assessment year in respect of any other capital asset.