https://www.taxtmi.com/caselaws?id=151750 The Tribunal held that the provisions of section 79, which restrict the carry forward of losses due to a change in shareholding, do not apply to the computation of book profit under section 115JB. The Tribunal ruled in favor of the assessee, directing the Assessing Officer to consider the loss as per the books of account of the assessee for the purpose of computing liability under section 115JB, reversing the decisions of the Commissioner of Income-tax (Appeals) and the Assessing Officer. (Pronounced on August 17, 2007) en-us Fri, 17 Aug 2007 00:00:00 +0530 Sat, 15 Jun 2013 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151750 The Tribunal held that the provisions of section 79, which restrict the carry forward of losses due to a change in shareholding, do not apply to the computation of book profit under section 115JB. The Tribunal ruled in favor of the assessee, directing the Assessing Officer to consider the loss as per the books of account of the assessee for the purpose of computing liability under section 115JB, reversing the decisions of the Commissioner of Income-tax (Appeals) and the Assessing Officer. (Pronounced on August 17, 2007) Case-Laws Income Tax Fri, 17 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151750