https://www.taxtmi.com/caselaws?id=342067 The Supreme Court dismissed the appeal, affirming the High Court's decision that income under Section 41(1) must be adjusted against the accumulated losses of the amalgamated company for determining the losses eligible for carry forward under Section 72A of the Income Tax Act, 1961. The Court highlighted the necessity of harmonizing Sections 72A and 41(1) to accurately calculate tax liabilities post-amalgamation. en-us Thu, 09 Mar 2017 00:00:00 +0530 Thu, 07 Apr 2022 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342067 The Supreme Court dismissed the appeal, affirming the High Court's decision that income under Section 41(1) must be adjusted against the accumulated losses of the amalgamated company for determining the losses eligible for carry forward under Section 72A of the Income Tax Act, 1961. The Court highlighted the necessity of harmonizing Sections 72A and 41(1) to accurately calculate tax liabilities post-amalgamation. Case-Laws Income Tax Thu, 09 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342067