https://www.taxtmi.com/caselaws?id=23557 The Supreme Court directed a fresh consideration of the case involving the interpretation of section 79 of the Income-tax Act regarding the set off of carried forward losses due to a change in shareholding exceeding 51% of the voting power. The Court emphasized the burden of proof on the assessee to establish eligibility for carrying forward losses under section 79, criticizing the Tribunal for not considering this burden. The judgment underscores the importance of meeting the conditions of section 79 and ensuring a fair assessment in cases of significant changes in shareholding. en-us Wed, 06 Sep 1989 00:00:00 +0530 Mon, 21 Dec 2009 17:16:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23557 The Supreme Court directed a fresh consideration of the case involving the interpretation of section 79 of the Income-tax Act regarding the set off of carried forward losses due to a change in shareholding exceeding 51% of the voting power. The Court emphasized the burden of proof on the assessee to establish eligibility for carrying forward losses under section 79, criticizing the Tribunal for not considering this burden. The judgment underscores the importance of meeting the conditions of section 79 and ensuring a fair assessment in cases of significant changes in shareholding. Case-Laws Income Tax Wed, 06 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23557