https://www.taxtmi.com/caselaws?id=424876 The Appellate Tribunal ITAT Hyderabad ruled in favor of the assessee, M/s Aster Rail Private Limited, in a case involving the interpretation of Section 79 of the Income Tax Act on the carry forward of losses due to a change in shareholding. The Tribunal held that losses incurred during the assessment year 2014-15 should be allowed to be carried forward, contrary to the lower authorities' decision. As a result, the Tribunal directed the Assessing Officer to delete the disallowance made under section 79, ultimately allowing the appeal of the assessee. en-us Thu, 30 Jun 2022 00:00:00 +0530 Mon, 11 Jul 2022 09:04:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424876 The Appellate Tribunal ITAT Hyderabad ruled in favor of the assessee, M/s Aster Rail Private Limited, in a case involving the interpretation of Section 79 of the Income Tax Act on the carry forward of losses due to a change in shareholding. The Tribunal held that losses incurred during the assessment year 2014-15 should be allowed to be carried forward, contrary to the lower authorities' decision. As a result, the Tribunal directed the Assessing Officer to delete the disallowance made under section 79, ultimately allowing the appeal of the assessee. Case-Laws Income Tax Thu, 30 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424876