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Section 79

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15 August 2015 my quary is that a company incurred loss on 31.03.2009 something 2 crore. thereafter company is take over by another company and for A.Y. 2013-14, he adjust loss of A.Y. 2009-10 amounting 2 crore. while shareholding is less than 51 % comparative to A.Y. 2009 to 2013-14, please explain that loss will be set off or not.
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
16 August 2015 As per section 79if share holding get falls below 51 % in 5 years...

Then loss so adjusted shall be income of the transferee company...
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
16 August 2015 And if any loss still exist even after shareholder % fall below 51%, such loss have no treatment at all. I.e. dead loss
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