Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Carry forward and set off of losses limited by firm succession, business succession and change in company shareholding; exceptions specified.</h1> Change in firm constitution bars carrying forward and setting off losses attributable to a retired or deceased partner beyond his profit share, preventing the firm from using that portion of loss. Succession in business other than by inheritance prevents the successor from carrying forward the predecessor s losses, so only the loss-incurring person may seek set off. Change in company shareholding during a tax year disallows carry forward unless at least 51% beneficial voting power continuity exists on the tax year end; eligible startups are permitted subject to shareholder continuity and ten-year incubation, and specified exemptions (death, gift to relative, amalgamation/demerger, insolvency resolution plan, tribunal-directed changes, relocation, strategic disinvestment) preserve carry forward rights.
TaxTMI 
TaxTMI 
