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of <h1>Business reorganisations: successor can carry forward predecessor's losses and depreciation, subject to continuity and genuineness conditions</h1> Where specified amalgamations, demergers or business reorganisations occur, accumulated business losses and unabsorbed depreciation of the predecessor entity are deemed losses/allowances of the successor and may be carried forward and set off, subject to conditions ensuring continuity of business and substantial retention of book value of assets and prescribed genuineness requirements. Failure to meet conditions causes earlier set-offs to be taxed as income. In demergers losses/allowances directly attributable to transferred undertakings pass to the resulting company, otherwise they are apportioned. Special limits apply for strategic disinvestment cases and for reorganisations effected on or after 1 April 2025 losses of the predecessor may be carried forward only for eight assessment years.
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