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<h1>Business Loss Carryforward Rules Limit Tax Strategies by Regulating Ownership Changes and Structural Modifications Under Section 79</h1> Legal provision addressing conditions for carrying forward and setting off business losses under income tax law. Focuses on restrictions when firms undergo changes in constitution, ownership, or succession. Establishes specific rules preventing tax loss manipulation through strategic structural modifications, with nuanced exceptions for start-ups, corporate restructuring, and government interventions. Aims to maintain tax system integrity while accommodating legitimate business transformations.
 TaxTMI