https://www.taxtmi.com/acts?id=4270 Section 72AB allows a successor co-operative bank to set off and carry forward the accumulated loss and unabsorbed depreciation of a predecessor bank as if the reorganisation had not occurred, provided prescribed continuity and genuineness conditions are met by both predecessor and successor (including asset-holding and continuation of business). For demergers, allowable set-off is either directly attributable amounts or a proportionate share based on transferred assets. Non-compliance with conditions causes earlier set-offs to be treated as taxable income of the successor in the year of breach. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 12:01:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4270 Section 72AB allows a successor co-operative bank to set off and carry forward the accumulated loss and unabsorbed depreciation of a predecessor bank as if the reorganisation had not occurred, provided prescribed continuity and genuineness conditions are met by both predecessor and successor (including asset-holding and continuation of business). For demergers, allowable set-off is either directly attributable amounts or a proportionate share based on transferred assets. Non-compliance with conditions causes earlier set-offs to be treated as taxable income of the successor in the year of breach. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4270