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2012 (8) TMI 771 - AT - Income TaxSet off of brought forward business loss and unabsorbed depreciation - denial - invocation of provisions of Section 79 - change in shareholding - shares of the company carrying more than 51% of the voting power were beneficially held by the new shareholders - Held that:- There is no dispute to the fact that the shareholding pattern has changed on 10-09-2003 and the assessee had accumulated business losses on that date. It is also found that various exceptions provided in the said provisions are not applicable to the facts of the case. Therefore, no infirmity found in the order of CIT(A) denying set of brought forward business loss and unabsorbed depreciation - Decided against assessee
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