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of <h1>Successor co-operative bank can set off predecessor's losses under section 44DB subject to asset, continuity and time conditions</h1> A successor co-operative bank may set off or carry forward the accumulated losses and unabsorbed depreciation of a predecessor co-operative bank as if the amalgamation/demerger had not occurred, subject to conditions: the predecessor carried on banking for at least three years and held at least three-fourths of book value of fixed assets for two years before reorganisation; the successor holds at least three-fourths of those fixed assets and continues the predecessor's business for five years and meets prescribed conditions. For demergers, allowable set-off is whole or proportionate to transferred assets. Special notification powers, deemed previous-year treatment around reorganisation, and taxability on non-compliance are provided; terms are defined by reference to section 44DB.
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