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of <h1>Tax Attributes Transfer Enables Smooth Co-operative Bank Mergers Under Section 72AB with Strategic Loss Carry-Forward Mechanisms</h1> Clause 118 of the Income Tax Bill, 2025, and Section 72AB of the Income Tax Act, 1961, address carry forward and set off of accumulated losses and unabsorbed depreciation in co-operative bank mergers and demergers. The provisions enable successor banks to transfer tax attributes from predecessor banks, ensuring financial continuity and stability during business reorganizations. The framework supports seamless transitions while preventing potential tax misuse through specific compliance conditions and regulatory safeguards.
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