https://www.taxtmi.com/acts?id=7806 Section 72AB allows a successor co operative bank to set off accumulated loss and unabsorbed depreciation of a predecessor bank as if the reorganisation had not occurred, provided the predecessor and successor meet continuity and asset holding conditions and any other prescribed or notified conditions. Where losses or depreciation relate wholly to transferred undertakings they pass in full; otherwise they are apportioned by asset proportion. The pre and post reorganisation periods are treated as distinct previous years for set off, and breach of conditions causes previously allowed set offs to be taxed as income in the year of non compliance. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 19 Jan 2008 22:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=7806 Section 72AB allows a successor co operative bank to set off accumulated loss and unabsorbed depreciation of a predecessor bank as if the reorganisation had not occurred, provided the predecessor and successor meet continuity and asset holding conditions and any other prescribed or notified conditions. Where losses or depreciation relate wholly to transferred undertakings they pass in full; otherwise they are apportioned by asset proportion. The pre and post reorganisation periods are treated as distinct previous years for set off, and breach of conditions causes previously allowed set offs to be taxed as income in the year of non compliance. Act-Rules F. Acts / Amendment Acts Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=7806