https://www.taxtmi.com/acts?id=49521 Accumulated loss and unabsorbed depreciation on amalgamation are deemed to be the loss or allowance of the amalgamated company for the year of amalgamation and are subject to the Act's set off and carry forward rules, but their allowance is conditional on continuity of specified assets and continuation of the business and other prescribed conditions to ensure revival or genuine business purpose; failure to satisfy those conditions results in previously made set offs being treated as taxable income in the year of non compliance. en-us Sat, 22 Feb 2025 10:58:59 +0530 Sat, 22 Feb 2025 10:58:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49521 Accumulated loss and unabsorbed depreciation on amalgamation are deemed to be the loss or allowance of the amalgamated company for the year of amalgamation and are subject to the Act's set off and carry forward rules, but their allowance is conditional on continuity of specified assets and continuation of the business and other prescribed conditions to ensure revival or genuine business purpose; failure to satisfy those conditions results in previously made set offs being treated as taxable income in the year of non compliance. Act-Rules F. Acts / Amendment Acts Sat, 22 Feb 2025 10:58:59 +0530 https://www.taxtmi.com/acts?id=49521