https://www.taxtmi.com/caselaws?id=395928 The High Court held that the conversion of a trust to a Limited Liability Company (LLC) did not create a new entity, allowing the LLC to carry forward accumulated losses. The Court quashed the reassessment notice issued under Section 148 and disallowed draft assessment orders that denied the carry forward of losses. The petitioners were granted relief, and the writ petitions were allowed without costs. en-us Fri, 12 Jun 2020 00:00:00 +0530 Sat, 13 Jun 2020 11:19:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395928 The High Court held that the conversion of a trust to a Limited Liability Company (LLC) did not create a new entity, allowing the LLC to carry forward accumulated losses. The Court quashed the reassessment notice issued under Section 148 and disallowed draft assessment orders that denied the carry forward of losses. The petitioners were granted relief, and the writ petitions were allowed without costs. Case-Laws Income Tax Fri, 12 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395928