There is a bit difference between Provisions of Both the Section.
Section 72A considers Unabsorbed Depreciation whereas Section 79 does not.
Section 72A is applicable only for Limited entity (Like Indusrial Undertakings, Banking Company and PSU) but Section 79 has a wider scope.
In my view, if in any case where both section are conflicting each other then Section 72A will surely override Section 79 (orderwise application of sections).
Dear Nikki
There is a bit difference between Provisions of Both the Section.
Section 72A considers Unabsorbed Depreciation whereas Section 79 does not.
Section 72A is applicable only for Limited entity (Like Indusrial Undertakings, Banking Company and PSU) but Section 79 has a wider scope.
In my view, if in any case where both section are conflicting each other then Section 72A will surely override Section 79 (orderwise application of sections).