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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Carry forward and set off of losses limited where ownership changes; continuity of beneficial ownership required for relief.</h1> Restrictions limit the carry forward and set off of losses where taxpayer composition changes: firms cannot carry forward loss portions attributable to retired or deceased partners (reduced by profit share); successors other than by inheritance cannot inherit carry forward rights; and closely held companies cannot set off carried losses after shareholding change unless majority beneficial ownership continuity or specified start up continuity conditions are met, with enumerated exceptions for death, gifts to relatives, certain amalgamations/demergers, insolvency or tribunal approved restructurings, relocation, and strategic disinvestment.

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