https://www.taxtmi.com/caselaws?id=253758 Section 72A relief was unavailable because the transaction involved transfer of a manufacturing division, not an amalgamation or demerger in the statutory sense; the unabsorbed depreciation of another company could not therefore be carried forward or used to revise the written down value of acquired assets. Lease advance forfeited on surrender of land for a proposed factory was capital in nature, so the resulting loss remained capital loss rather than revenue expenditure. The treatment of alleged incentive income depended on whether it had actually accrued and on the relevant accounting entries, so that issue was remanded for fresh examination. en-us Fri, 28 Nov 2014 00:00:00 +0530 Wed, 03 Dec 2014 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253758 Section 72A relief was unavailable because the transaction involved transfer of a manufacturing division, not an amalgamation or demerger in the statutory sense; the unabsorbed depreciation of another company could not therefore be carried forward or used to revise the written down value of acquired assets. Lease advance forfeited on surrender of land for a proposed factory was capital in nature, so the resulting loss remained capital loss rather than revenue expenditure. The treatment of alleged incentive income depended on whether it had actually accrued and on the relevant accounting entries, so that issue was remanded for fresh examination. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253758