https://www.taxtmi.com/caselaws?id=19204 Carry-forward of earlier years' losses and unabsorbed depreciation remains available despite a change in shareholding attracting section 79(a), on the stated facts. The restriction was treated as not denying the company the benefit of carrying forward losses in those circumstances. Unabsorbed depreciation is governed by section 32(2) and is carried forward on the same footing as current depreciation. Accordingly, earlier losses and unabsorbed depreciation may be considered for set-off in subsequent years despite the shareholding change. en-us Thu, 15 Dec 1994 00:00:00 +0530 Wed, 04 Nov 2009 16:15:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19204 Carry-forward of earlier years' losses and unabsorbed depreciation remains available despite a change in shareholding attracting section 79(a), on the stated facts. The restriction was treated as not denying the company the benefit of carrying forward losses in those circumstances. Unabsorbed depreciation is governed by section 32(2) and is carried forward on the same footing as current depreciation. Accordingly, earlier losses and unabsorbed depreciation may be considered for set-off in subsequent years despite the shareholding change. Case-Laws Income Tax Thu, 15 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19204