https://www.taxtmi.com/acts?id=48436 The amendment inserts a proviso to section 72AA to provide that where a scheme of amalgamation is brought into force on or after 1st April, 2025, any accumulated loss of the predecessor entity that is deemed to be the loss of the successor entity in amalgamations involving banking companies, corresponding new banks or Government companies shall be carried forward in the hands of the successor entity for not more than eight assessment years immediately succeeding the assessment year for which such loss was first computed for the original predecessor entity; 'original predecessor entity' means the predecessor entity in respect of the first amalgamation. en-us Sat, 01 Feb 2025 14:31:55 +0530 Sat, 01 Feb 2025 14:31:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48436 The amendment inserts a proviso to section 72AA to provide that where a scheme of amalgamation is brought into force on or after 1st April, 2025, any accumulated loss of the predecessor entity that is deemed to be the loss of the successor entity in amalgamations involving banking companies, corresponding new banks or Government companies shall be carried forward in the hands of the successor entity for not more than eight assessment years immediately succeeding the assessment year for which such loss was first computed for the original predecessor entity; 'original predecessor entity' means the predecessor entity in respect of the first amalgamation. Act-Rules Bills Sat, 01 Feb 2025 14:31:55 +0530 https://www.taxtmi.com/acts?id=48436