https://www.taxtmi.com/caselaws?id=218608 The Tribunal upheld the denial of set off and carry forward of a business loss amounting to Rs. 29,94,643 for the Assessment Year 2007-08, citing a change in shareholding exceeding 51% as per Section 79 of the Income Tax Act. The Tribunal found the assessment valid in law and facts, referencing a precedent establishing the applicability of Section 79 in subsequent years following a shareholding change. The appeal was dismissed, affirming the disallowance of the loss carry forward. en-us Fri, 27 Jul 2012 00:00:00 +0530 Wed, 21 Nov 2012 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218608 The Tribunal upheld the denial of set off and carry forward of a business loss amounting to Rs. 29,94,643 for the Assessment Year 2007-08, citing a change in shareholding exceeding 51% as per Section 79 of the Income Tax Act. The Tribunal found the assessment valid in law and facts, referencing a precedent establishing the applicability of Section 79 in subsequent years following a shareholding change. The appeal was dismissed, affirming the disallowance of the loss carry forward. Case-Laws Income Tax Fri, 27 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218608