https://www.taxtmi.com/caselaws?id=341479 The tribunal upheld the Commissioner of Income Tax (Appeals) decisions in the case. It condoned the delay in filing the appeal, deleted the double disallowance under Section 40A(3) of the Income Tax Act, allowed the property expenses, and permitted the carry forward of losses of the amalgamating company. The tribunal found that all conditions for carrying forward losses in case of amalgamation were met and that the amendment to Section 72A had retrospective application. Consequently, the Revenue's appeal was dismissed, and the CIT(A)'s decisions were upheld. en-us Wed, 05 Apr 2017 00:00:00 +0530 Mon, 10 Apr 2017 10:24:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341479 The tribunal upheld the Commissioner of Income Tax (Appeals) decisions in the case. It condoned the delay in filing the appeal, deleted the double disallowance under Section 40A(3) of the Income Tax Act, allowed the property expenses, and permitted the carry forward of losses of the amalgamating company. The tribunal found that all conditions for carrying forward losses in case of amalgamation were met and that the amendment to Section 72A had retrospective application. Consequently, the Revenue's appeal was dismissed, and the CIT(A)'s decisions were upheld. Case-Laws Income Tax Wed, 05 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341479