Amendment of section 79.

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..... vious year on account of relocation referred to in the Explanation to clause (viiac) and (viiad) of section 47. . - Clause 23 of the Bill seeks to amend section 79 of the Income-tax Act relating to carry forward and set off of losses in case of certain companies. Sub-section (1) of the said section provides that where a change in shareholding has taken place during the previous year in the case of .....

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..... ned in the section shall apply to a case to the extent that a change in the shareholding takes place during the previous year on account of relocation referred to in the Explanation to clause (viiac) and (viiad) of section 47. This amendment will take effect from 1st April, 2022 and will, accordingly, apply in relation to the assessment year 2022-2023 and subsequent assessment years. - statute, .....

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