https://www.taxtmi.com/caselaws?id=274779 An amalgamation scheme that fixes an effective transfer date will generally operate from that date for tax purposes if later sanctioned without changing the transfer date, allowing the amalgamating company's accumulated losses and unabsorbed depreciation to be carried forward and set off under section 72A. The note also states that a protective assessment may be maintained pending final sanction to safeguard the Revenue's position. On commission paid to non-residents, it records that no disallowance under section 40(a)(ia) arises where the remittance is for services rendered outside India and is not chargeable to tax in India, and that a later circular cannot be applied retrospectively to earlier payments. en-us Mon, 30 Jan 2017 00:00:00 +0530 Mon, 03 Sep 2018 12:43:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274779 An amalgamation scheme that fixes an effective transfer date will generally operate from that date for tax purposes if later sanctioned without changing the transfer date, allowing the amalgamating company's accumulated losses and unabsorbed depreciation to be carried forward and set off under section 72A. The note also states that a protective assessment may be maintained pending final sanction to safeguard the Revenue's position. On commission paid to non-residents, it records that no disallowance under section 40(a)(ia) arises where the remittance is for services rendered outside India and is not chargeable to tax in India, and that a later circular cannot be applied retrospectively to earlier payments. Case-Laws Income Tax Mon, 30 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274779