Section 79
This query is : Resolved
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.
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...
Then loss so adjusted shall be income of the transferee company...
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- FEMA regulation Act. for inward remitance
- Grand in aid
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
