Losses from 2013-14 can't offset 2014-15 income u/s 79, but 2014-15 losses can be carried forward.

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....Disallowing the loss u/s 79 - change in shareholding of the assessee company - any loss that is coming from the assessment year 2013-14 is not allowable against the income of the assessment year 2014-15. This does not mean that the losses incurred during the assessment year 2014-15 (in the financial year 2013-14) are not to be allowed to be carried forward. With this view of the matter, we find that the observations of the authorities below that the current year losses are not to be allowed to be carried forward further are untenable. - AT....