Yum India cannot offset past business losses due to shareholding change u/s 79 of Income Tax Act.

Yum India cannot offset past business losses due to shareholding change u/s 79 of Income Tax Act. https://www.taxtmi.com/highlights?id=26930 Carry forward accumulated business losses - change in shareholding - The question of 'piercing the veil' at the instance of Yum India does not arise. - in terms of Section 79 of the Act, Yum India cannot be permitted to set off the carry forward accumulated business losses of the earlier years. - HC en-us Fri, 15 Jan 2016 16:00:35 +0530 Fri, 15 Jan 2016 16:00:35 +0530 TaxTMI RSS Generator Yum India cannot offset past business losses due to shareholding change u/s 79 of Income Tax Act. https://www.taxtmi.com/highlights?id=26930 Carry forward accumulated business losses - change in shareholding - The question of 'piercing the veil' at the instance of Yum India does not arise. - in terms of Section 79 of the Act, Yum India cannot be permitted to set off the carry forward accumulated business losses of the earlier years. - HC Highlights Income Tax Fri, 15 Jan 2016 16:00:35 +0530 https://www.taxtmi.com/highlights?id=26930