https://www.taxtmi.com/caselaws?id=412607 The ITAT upheld the CIT(A)'s decision, allowing the set-off of brought forward losses. Despite a change in shareholding due to a merger, beneficial ownership and voting power remained effectively unchanged within the same group of companies. The Revenue's appeal was dismissed, confirming Section 79 was not applicable due to continuity in control and management by TRIL. en-us Wed, 18 Aug 2021 00:00:00 +0530 Wed, 22 Sep 2021 10:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412607 The ITAT upheld the CIT(A)'s decision, allowing the set-off of brought forward losses. Despite a change in shareholding due to a merger, beneficial ownership and voting power remained effectively unchanged within the same group of companies. The Revenue's appeal was dismissed, confirming Section 79 was not applicable due to continuity in control and management by TRIL. Case-Laws Income Tax Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412607