https://www.taxtmi.com/article/detailed?id=11020 A High Court sanctioned scheme of amalgamation that deems transferor companies' accumulated losses to be those of the transferee has statutory force and binds tax authorities; objections to tax consequences should be raised before sanction. Where management and control effectively remained unchanged and the court approved loss deeming provisions, the tribunal allowed set off of brought forward business and capital losses against the transferee's income despite change in shareholding. en-us Tue, 24 Jan 2023 11:32:57 +0530 Tue, 24 Jan 2023 11:32:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11020 A High Court sanctioned scheme of amalgamation that deems transferor companies' accumulated losses to be those of the transferee has statutory force and binds tax authorities; objections to tax consequences should be raised before sanction. Where management and control effectively remained unchanged and the court approved loss deeming provisions, the tribunal allowed set off of brought forward business and capital losses against the transferee's income despite change in shareholding. Articles Income Tax Tue, 24 Jan 2023 11:32:57 +0530 https://www.taxtmi.com/article/detailed?id=11020