https://www.taxtmi.com/caselaws?id=770484 The HC upheld ITAT's decision allowing carry forward of assessed loss despite the return being filed under Section 139(4) rather than Section 139(1). Following the SC precedent in Dalmia Power Ltd., the court held that revenue authorities must recognize the scheme of amalgamation approved by HC from the appointed date. The taxing authorities cannot ignore returns filed beyond due date when filed under a court-approved amalgamation scheme. The Tribunal correctly dismissed revenue's appeal, as authorities are bound to consider the assessee's status as per the amalgamation scheme effective from the appointed date. en-us Mon, 05 May 2025 00:00:00 +0530 Mon, 12 May 2025 09:01:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770484 The HC upheld ITAT's decision allowing carry forward of assessed loss despite the return being filed under Section 139(4) rather than Section 139(1). Following the SC precedent in Dalmia Power Ltd., the court held that revenue authorities must recognize the scheme of amalgamation approved by HC from the appointed date. The taxing authorities cannot ignore returns filed beyond due date when filed under a court-approved amalgamation scheme. The Tribunal correctly dismissed revenue's appeal, as authorities are bound to consider the assessee's status as per the amalgamation scheme effective from the appointed date. Case-Laws Income Tax Mon, 05 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770484