https://www.taxtmi.com/caselaws?id=274763 The High Court upheld the Tribunal's decision, affirming the allowance of set off of losses against income under Section 72A despite pending merger issues. It also validated protective assessment orders for cases where amalgamation schemes were not finalized, directing the AO to allow set off and pass protective assessments. The Court emphasized the impact of finalized merger schemes on tax assessments, dismissing Revenue's appeals based on legal provisions and precedents, including the finality of the BIFR order determining the effective date of amalgamation. en-us Tue, 25 Jul 2017 00:00:00 +0530 Sat, 01 Sep 2018 05:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274763 The High Court upheld the Tribunal's decision, affirming the allowance of set off of losses against income under Section 72A despite pending merger issues. It also validated protective assessment orders for cases where amalgamation schemes were not finalized, directing the AO to allow set off and pass protective assessments. The Court emphasized the impact of finalized merger schemes on tax assessments, dismissing Revenue's appeals based on legal provisions and precedents, including the finality of the BIFR order determining the effective date of amalgamation. Case-Laws Income Tax Tue, 25 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274763