Supplementary Provisions, Article 4Transitional Provisions Concerning Carryover of Losses Incurred in Business Years for Which a Blue Return Was Filed, etc.

The provisions of Article 57 of the New Act (Carryover of Losses Incurred in Business Years for Which a Blue Return Was Filed), Article 58 (Carryover of Losses Due to Disasters Incurred in Business Years for Which No Blue Return Was Filed) and Article 81, paragraph (4) (Refund by Carryback of Losses) (including as applied mutatis mutandis pursuant to Article 145, paragraph (1) of the New Act (Mutatis Mutandis Application to Foreign Corporations)) apply to a net operating loss incurred in a business year of a corporation beginning on or after April 1, 1968, and with regard to a net operating loss incurred in a business year of a corporation that began before that date, the provisions then in force continue to govern.