TaxTMI 
TaxTMI 
2018 (6) TMI 1053
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....st the judgment of the Income Tax Appellate Tribunal dated 13.12.2017 raising following question for our consideration: "Whether the Appellate Tribunal has erred in law and on facts in remitting the issue to the file of Assessing Officer without appreciating the fact that brought forward losses & unabsorbed depreciation cannot be said to be related to transferred undertaking in absence of separa....
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....ction (4) of section 72A of the Act. After referring to the said provision, the Tribunal held and observed as under: "8. Clearly, therefore, as long as brought forward losses and ubabsorbed depreciation can be directly relatable to the undertakings transferred to the resulting company (i.e. Advantage Retail Pvt Ltd.) in this case, the same is to be carried forward in the hands of resulting compa....
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....case, we are of the considered view that the matter is required to be remitted to the file of the Assessing Officer for adjudication de novo in the light of our observations above, in accordance with the law, by way of a speaking order dealing with specific justifications for bifurcation, as may be given by the assessee, after giving a fair and reasonable opportunity of hearing to the assessee." ....
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.... proportion in which assets of the undertakings have been retained by the Demerged Company and transferred to the Resulting Company which would be allowed to be carried forward and set off in the hands of the Demerged Company or the Resulting Company, as the case may be. 4. The Tribunal is thus correct in commenting that if the brought forward losses and unabsorbed depreciation are directly relat....