https://www.taxtmi.com/acts?id=51649 Successor co operative banks may set off predecessor accumulated losses and unabsorbed depreciation as if the business reorganisation had not occurred, with whole amounts following directly relatable transferred undertakings or apportioned by asset distribution otherwise; eligibility requires continuity of banking business, substantial retention of fixed assets by predecessor and successor for prescribed periods and other conditions to ensure revival and genuineness, and non compliance renders the set off taxable as income in the year of breach. en-us Thu, 14 Aug 2025 10:49:50 +0530 Fri, 05 Sep 2025 12:53:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51649 Successor co operative banks may set off predecessor accumulated losses and unabsorbed depreciation as if the business reorganisation had not occurred, with whole amounts following directly relatable transferred undertakings or apportioned by asset distribution otherwise; eligibility requires continuity of banking business, substantial retention of fixed assets by predecessor and successor for prescribed periods and other conditions to ensure revival and genuineness, and non compliance renders the set off taxable as income in the year of breach. Act-Rules Income Tax Thu, 14 Aug 2025 10:49:50 +0530 https://www.taxtmi.com/acts?id=51649