Carry forward and set off of accumulated losses allowed on specified amalgamations when rehabilitation conditions and authority certificate are satisfied. The Central Government may declare that an amalgamating company's accumulated loss and unabsorbed depreciation are deemed the loss and allowance of the ... Summary
Carry forward and set off of accumulated losses allowed on specified amalgamations when rehabilitation conditions and authority certificate are satisfied.
The Central Government may declare that an amalgamating company's accumulated loss and unabsorbed depreciation are deemed the loss and allowance of the amalgamated company where specified conditions for amalgamation and rehabilitation are satisfied; thereafter the losses and allowances follow normal set off and carry forward rules, provided the amalgamated company continues the business (with approved modifications) and files a specified authority certificate confirming rehabilitation steps.
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