https://www.taxtmi.com/caselaws?id=60519 The Tribunal allowed the appeal, determining that the change in shareholding was not for tax avoidance, and the conditions of clause (b) of section 79 were not met in the assessment year 1977-78. As a result, the assessee was entitled to the redetermination of losses to be carried forward. The Income Tax Officer was directed to verify the calculations and allow the set off of the balance of losses in the assessment year 1978-79. en-us Mon, 01 Dec 1986 00:00:00 +0530 Wed, 05 Jan 2011 17:13:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60519 The Tribunal allowed the appeal, determining that the change in shareholding was not for tax avoidance, and the conditions of clause (b) of section 79 were not met in the assessment year 1977-78. As a result, the assessee was entitled to the redetermination of losses to be carried forward. The Income Tax Officer was directed to verify the calculations and allow the set off of the balance of losses in the assessment year 1978-79. Case-Laws Income Tax Mon, 01 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60519