https://www.taxtmi.com/caselaws?id=282201 An amalgamation scheme's appointed date controls the availability of carry-forward business loss and unabsorbed depreciation under section 72A when the statutory conditions under Rule 9C are met; a separate cut-off date for objections or concessions does not displace the appointed date. On that basis, the amalgamating company's accumulated loss and depreciation were available for set-off in the year of amalgamation. The disallowance relating to sales promotion expenses also did not survive because the factual basis for the deletion was not rebutted, and the addition had already been addressed under section 154. The Revenue's appeal was therefore unsuccessful in full. en-us Wed, 09 Jan 2019 00:00:00 +0530 Fri, 26 Jul 2019 08:20:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282201 An amalgamation scheme's appointed date controls the availability of carry-forward business loss and unabsorbed depreciation under section 72A when the statutory conditions under Rule 9C are met; a separate cut-off date for objections or concessions does not displace the appointed date. On that basis, the amalgamating company's accumulated loss and depreciation were available for set-off in the year of amalgamation. The disallowance relating to sales promotion expenses also did not survive because the factual basis for the deletion was not rebutted, and the addition had already been addressed under section 154. The Revenue's appeal was therefore unsuccessful in full. Case-Laws Income Tax Wed, 09 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282201