Are there any special provisions in case of carry forward and set off of loss in case of a company in which public are not substantially interested?

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..... of a company, not being a company in which the public are substantially interested, no loss incurred in any year prior to the previous year shall be carried forward and set off against the income of the previous year unless- On the last day of the previous year the shares of the company carrying not less than fifty-one per cent of the voting power were beneficially held by person who beneficial .....

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..... ng expenditure. Further, the provisions of section 79 ​ are not applicable in case of change in share holding on account of death of shareholder or on account of transfer of shares by way of gift to any relative of the shareholder or change in shareholding in case of an Indian company which is a subsidiary of foreign company, when such foreign company is amalgamated/demerged with another .....

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..... (1) W.e.f., Assessment Year 2022-23, section 79 shall not apply in case there change in the shareholding has taken place during the previous year on account of relocation referred to in the Explanation to clauses (viiac) and (viiad) of section 47. (2) W.e.f. Assessment Year 2022-23, section 79 shall not apply to an erstwhile Public Sector Company (PSU), subject to the condition that the .....

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