Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Apportionment of carried forward losses: transferee companies treat allotted shares as their own for carry forward and set off under tax law. Losses or profits that would have been carried forward under Chapter VI of the Income tax Act, 1961, where assets, rights and liabilities of a body corporate are transferred to other bodies corporate continuing the same business, shall be apportioned among the transferee bodies corporate under Central Government rules, and each transferee shall deal with its allotted share as if it had itself sustained that loss for purposes of Chapter VI.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Apportionment of carried forward losses: transferee companies treat allotted shares as their own for carry forward and set off under tax law.
Losses or profits that would have been carried forward under Chapter VI of the Income tax Act, 1961, where assets, rights and liabilities of a body corporate are transferred to other bodies corporate continuing the same business, shall be apportioned among the transferee bodies corporate under Central Government rules, and each transferee shall deal with its allotted share as if it had itself sustained that loss for purposes of Chapter VI.
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