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of <h1>Section 72A(2)(ii) Certificate Required Annually for Amalgamated Company Benefits Under Income Tax Act, 1961.</h1> Section 72A(2)(ii) of the Income Tax Act, 1961 requires a certificate from a specified authority to confirm that adequate steps have been taken for the rehabilitation or revival of an amalgamating company. This circular clarifies that such a certificate is needed not only for the year of amalgamation but also for every subsequent year in which the amalgamated company claims benefits under section 72A. The certificate is necessary for all years during which the revival scheme is implemented and for all assessment years when the amalgamated company claims carry-forward and set-off of unabsorbed losses and depreciation.
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