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of <h1>Amalgamated companies must meet production criteria to carry forward losses; compliance certified via Form No. 62.</h1> In cases of amalgamation, certain conditions must be met for carrying forward or setting off accumulated loss and unabsorbed depreciation. The amalgamated company must achieve at least 50% of the installed production capacity of the acquired industrial undertaking within four years from the amalgamation date and maintain this level for five years. The Central Government may relax these conditions based on genuine efforts and circumstances. Additionally, the amalgamated company must submit a certified Form No. 62 to the Assessing Officer, detailing production levels, along with the income return for relevant assessment years within five years post-amalgamation.
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