https://www.taxtmi.com/caselaws?id=63685 The Tribunal allowed the appeal in part, reversing the CIT(A)'s decision on the eligibility of set-off for brought forward business losses and unabsorbed depreciation under Section 72A. The Tribunal held that the set-off should be allowed in the year of amalgamation, which is the current year (1982-83). However, the Tribunal upheld the CIT(A)'s decisions on other issues, including weighted deduction for contributions to provident fund and ESI, taxation of interest income earned on oversubscribed share issue, applicability of Section 80VV to retainership fees and expenses, and determination of actual cost for depreciation and investment allowance. en-us Mon, 29 Feb 1988 00:00:00 +0530 Tue, 22 Feb 2011 13:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63685 The Tribunal allowed the appeal in part, reversing the CIT(A)'s decision on the eligibility of set-off for brought forward business losses and unabsorbed depreciation under Section 72A. The Tribunal held that the set-off should be allowed in the year of amalgamation, which is the current year (1982-83). However, the Tribunal upheld the CIT(A)'s decisions on other issues, including weighted deduction for contributions to provident fund and ESI, taxation of interest income earned on oversubscribed share issue, applicability of Section 80VV to retainership fees and expenses, and determination of actual cost for depreciation and investment allowance. Case-Laws Income Tax Mon, 29 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63685