https://www.taxtmi.com/caselaws?id=767079 Delhi HC rejected petitioner's request for relaxation of conditions under Rule 9C and Section 72A to carry forward losses from amalgamated companies for extended period. Petitioner failed to achieve requisite production capacity even during requested three-year extension. Court held Section 72A aims to encourage genuine business purposes where industrial undertakings are revived/continued, not merely corporate structure simplification. Petitioner's application was made one day before four-year period expiry, seeking various production level reductions from 50% to 36-42% with time extensions. Court found rejection decision not perverse and dismissed petition as unmerited. en-us Tue, 25 Feb 2025 00:00:00 +0530 Thu, 19 Feb 2026 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767079 Delhi HC rejected petitioner's request for relaxation of conditions under Rule 9C and Section 72A to carry forward losses from amalgamated companies for extended period. Petitioner failed to achieve requisite production capacity even during requested three-year extension. Court held Section 72A aims to encourage genuine business purposes where industrial undertakings are revived/continued, not merely corporate structure simplification. Petitioner's application was made one day before four-year period expiry, seeking various production level reductions from 50% to 36-42% with time extensions. Court found rejection decision not perverse and dismissed petition as unmerited. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767079