Case law - loss set off

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....ase law - loss set off<br> Query (Issue) Started By: - Sarwan Agarwal Dated:- 13-11-2008 Last Reply Date:- 15-11-2008 Income Tax<br>Got 1 Reply<br>Income Tax<br>Dear Sir, my qurrey is on Section 79 of....

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.... the Income Tax Act, 1961. A Pvt. Ltd. company having three share holders say X holding 500 shares, Y holding 1000 Shares and Z holding 1500 shares on the last day of previous year on which loss was i....

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....ncurred. In the year of set off the same X, Y and Z held the shares but now x holds 5000 shares (increase by issue of addittioal 4500 shares)the othe holding the same nos. Now the Question is whether ....

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....loss is permitted to be set off. Plz site some case law if possioble. Regds Reply By Surender Gupta: The Reply: As per the provisions of section 79, you are qualifying the conditions and accordingly....

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.... entitled to carry forward the loss.<br> Discussion Forum - Knowledge Sharing ....