https://www.taxtmi.com/caselaws?id=65565 The ITAT Delhi-I set aside the CIT(A)'s rectification order regarding the set off of accumulated losses and depreciation, granting the assessee relief in the assessment year 1995-96 instead of 1996-97. The CIT(A) erred in relying on a certificate from BIFR to determine the assessment year for granting the benefit, as it was issued under a different provision. The ITAT held that the benefit should have been granted in 1995-96 as per section 72A(1) of the IT Act, governing amalgamation cases. en-us Fri, 13 Jul 2007 00:00:00 +0530 Wed, 08 Aug 2012 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65565 The ITAT Delhi-I set aside the CIT(A)'s rectification order regarding the set off of accumulated losses and depreciation, granting the assessee relief in the assessment year 1995-96 instead of 1996-97. The CIT(A) erred in relying on a certificate from BIFR to determine the assessment year for granting the benefit, as it was issued under a different provision. The ITAT held that the benefit should have been granted in 1995-96 as per section 72A(1) of the IT Act, governing amalgamation cases. Case-Laws Income Tax Fri, 13 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65565