Transfer of ownership i.e. transfer of share of Closely held company attracts sec. 79 for carry forward & Set off of Losses & unabsorbed depreciation. It also lays down condition of Minimum 51% share holding to remain intact & lock in period for it.
BUT what in respect of Public company?
Can Losses be carried forward & set off on transfer of ownership of public company? Mostly when more than 51% of share holding is transfered to outsiders?
What are the ways by which losses can be c/f & ownership stands transfered ?
Please answer if such losses can be carried forward? Please specify relevant provisions if Any??
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