Additional requirements for business reorganization regarding the set-off and carry forward of losses and depreciation allowances [ Section 72A(6) & (6A) ]

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....organisation of business by a firm or proprietor is succeeded by a Company, * Whereby, a firm is succeeded by a company fulfilling the conditions laid down in clause (xiii) of section 47 or * a proprietary concern is succeeded by a company fulfilling the conditions laid down in clause (xiv) of section 47, * then, notwithstanding anything contained in any other provision of this Act, * the ....

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....come of the company chargeable to tax in the year in which such conditions are not complied with. [ First proviso of Section 74A(6) ] Reorganisation of business by a firm or proprietor is succeeded by a Company, * whereby a private company or unlisted public company is succeeded by a limited liability partnership fulfilling the conditions laid down in the proviso to clause (xiiib) of section 47....