Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2021 Year 2021 This

Set off of brought forward losses denied - change in the ...

Income Tax

September 22, 2021

Set off of brought forward losses denied - change in the shareholding pattern of the assessee post merger - Considering the fact that the assessee is a subsidiary of TRIL, Actis and THPL before merger and after merger still a subsidiary of TRIL. It was brought to our notice that as on 31.03.2014 TRIL holds 100% shares of the assessee-company. In our considered view, effectively there is no change in the management as well as voting rights in the assessee-company. - Provisions of section 79 not applicable - appellant is entitled to set off the business loss brought forward from earlier years - AT

View Source

 


 

You may also like:

  1. Set off & Carry forward business loss - change in share holding - share application money not to be considered for determination of percentage of share holding - AT

  2. Set off of brought forward business loss and unabsorbed depreciation - denial - invocation of provisions of Section 79 - change in shareholding - AT

  3. Denial of Set off brought forward losses by applying provisions of section 79 - Change in share holding pattern between both the shareholders - the view expressed by the...

  4. Entitlement to set off the brought forward business loss against the rental income, car and computer hire charges and the commission income - set off allowed - HC

  5. Set off of loss brought forward losses - conditions of 51% shareholding - the assessee is not seeking carry forward of losses to be set off but the assessee is seeking...

  6. Amalgamated company is entitled to set off and carry forward the brought forward business losses and unabsorbed depreciation of the amalgamating company from the very...

  7. Assessment post amalgamation - brought forward losses post amalgamation - we allow the adjustment of brought forward business loss against the current year’s business...

  8. Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the...

  9. Assessing Officer directed to allow set off of current year's business loss as well as the brought forward business loss/unabsorbed depreciation against the income...

  10. Speculative loss - Setting off the Brought Forward Losses – Proportionate Expenses - The department cannot take different stand on the year under consideration as...

 

Quick Updates:Latest Updates