https://www.taxtmi.com/caselaws?id=290432 Section 72A of the Income-tax Act regulates the post-amalgamation treatment of accumulated losses and unabsorbed depreciation, including the conditions for carry forward and set-off in the hands of the amalgamated company. It does not, by itself, bar amalgamation merely because the transaction may affect revenue or create loss utilisation benefits. The provision operates after amalgamation and any possible tax consequence to the Revenue is not a legal ground to refuse sanction. A request to reopen a long-settled amalgamation order was also declined because of the delay and the prejudice that would result to the amalgamated company. en-us Thu, 23 Feb 2017 00:00:00 +0530 Fri, 25 Sep 2020 20:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290432 Section 72A of the Income-tax Act regulates the post-amalgamation treatment of accumulated losses and unabsorbed depreciation, including the conditions for carry forward and set-off in the hands of the amalgamated company. It does not, by itself, bar amalgamation merely because the transaction may affect revenue or create loss utilisation benefits. The provision operates after amalgamation and any possible tax consequence to the Revenue is not a legal ground to refuse sanction. A request to reopen a long-settled amalgamation order was also declined because of the delay and the prejudice that would result to the amalgamated company. Case-Laws Income Tax Thu, 23 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290432