https://www.taxtmi.com/caselaws?id=436869 An amalgamation scheme was rejected because no undertaking was initially included to satisfy the section 72A Income-tax Act conditions for retention of fixed assets, continuation of business, and carry forward of losses and unabsorbed depreciation. On appeal, the transferee company filed an undertaking stating that it would comply with those statutory conditions. The matter was left open for the National Company Law Tribunal to consider a fresh undertaking under section 72A and pass appropriate orders expeditiously in accordance with law. en-us Thu, 20 Apr 2023 00:00:00 +0530 Fri, 21 Apr 2023 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436869 An amalgamation scheme was rejected because no undertaking was initially included to satisfy the section 72A Income-tax Act conditions for retention of fixed assets, continuation of business, and carry forward of losses and unabsorbed depreciation. On appeal, the transferee company filed an undertaking stating that it would comply with those statutory conditions. The matter was left open for the National Company Law Tribunal to consider a fresh undertaking under section 72A and pass appropriate orders expeditiously in accordance with law. Case-Laws Income Tax Thu, 20 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436869