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2023 (11) TMI 1042 - ITAT MUMBAIDisallowance of brought forward losses adjusted against the income - Change in shareholding of the company - AO relied upon the assessment order pertaining to the AY 2012-13, wherein addition u/s 79 of the Act was made and carry forward losses were disallowed - assessee filled appeal against that order for AY 2012-13 - HELD THAT:- As both the authorities below decided the issue qua brought forward losses, on the basis of assessment order passed for the AY 2012-13, which has been reversed by the Hon’ble Coordinate bench of the Tribunal [2023 (7) TMI 1325 - ITAT MUMBAI] for A.Y. 2012-13, 2014-15 allowed the brought forward losses and the Hon’ble Bench has allowed set off of brought forward losses by holding that change in individual shareholding of the shareholders would also not attract the provisions of section 79 of the Act and therefore will not be applicable in the facts of the present case. Hence respectfully following the said decision above we are inclined to allow the claim of the Assessee qua setting off of the brought forward losses, consequently the same is allowed.
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