https://www.taxtmi.com/caselaws?id=218528 The Tribunal upheld the CIT(Appeals) decision allowing the set off of the loss of an amalgamating company against the profits of the appellant amalgamated company for the assessment year 2008-09. It dismissed the revenue's appeal, confirming the validity of the amalgamation scheme under section 72A of the Act and emphasizing that the scheme was duly sanctioned by the High Court and took effect from the appointed date specified in the scheme. The Tribunal found the revenue's concerns about tax avoidance unfounded and upheld the CIT(Appeals) order, determining that the claim for set off was legitimate. en-us Tue, 31 Jul 2012 00:00:00 +0530 Mon, 19 Nov 2012 06:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218528 The Tribunal upheld the CIT(Appeals) decision allowing the set off of the loss of an amalgamating company against the profits of the appellant amalgamated company for the assessment year 2008-09. It dismissed the revenue's appeal, confirming the validity of the amalgamation scheme under section 72A of the Act and emphasizing that the scheme was duly sanctioned by the High Court and took effect from the appointed date specified in the scheme. The Tribunal found the revenue's concerns about tax avoidance unfounded and upheld the CIT(Appeals) order, determining that the claim for set off was legitimate. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218528