section 79 could be applied only if the Department could prove that both the conditions laid down in section 79(a) and section 79 ... losses are covered by section 79 in our opinion, section 79 itself gives the answer. section 79 contemplates that no loss incurred in any year
Section 79 , so contends the counsel.
7. Let us, therefore, read Section 79 :
" 79. Carry forward and set off of losses in the case ... Section 72A , losses in speculation business are in Section 73 , losses under the head " Capital gains " are dealt with under Section 74 , losses
Carry-forward and set-ff of losses:-
In respect of carry forward and set off of losses, section 79 says that:-
"Notwithstanding anything contained ... reproduce Section 79 of the 1961 Act. The said Section 79 was amended by
Finance Act,1988 wherein clause (b) to Section 79 stood deleted
The Madurai City Municipal Corporation Act, 1971
TAMILNADU
India
The Madurai City Municipal Corporation Act
The Bihar and Orissa Excise Act, 1915
ODISHA
India
The Bihar and Orissa Excise Act
Ferro Alloys Corpn. Ltd. And Ors. Etc. ... vs A.P. State Electricity Board And Ors
compliance with the conditions stipulated in
Section 79 of the Act.
Section 79 requires an inquiry to be made as to who the shareholders were ... that the assessee was legally entitled
for carry forward of losses as per section 79 because he fulfilled the conditions as
stipulated in the section
issue of carry forward of
accumulated business losses for the past years and set off under Section 79
of the Act.
17. The Revenue ... issue of carry forward and set off of the
business losses under Section 79 of the Act.
AMP expenses
22. On the issue
consideration in view of the provisions of Section 79 . He also held that even otherwise, the loss for A.Y. 97-98 claimed ... case of the assessee was covered by the provisions of Section 79 and the loss incurred in the previous year relevant
Section 79 made a departure from those provisions. The overriding nature of Section 79 is not to disturb the concept of loss as envisaged ... interpretation of Section 79 .
9. The whole Chapter in which Section 79 occurs has made specific provisions as to how the losses
