Income-tax Act, 1961

Section - 72AA - Carry forward and set off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation in certain cases

Carry forward and set off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation in certain cases.

72AA. Notwithstanding anything contained in sub-clauses (i) to (iii) of clause (1B) of section 2 or section 72A, where there has been an amalgamation of-

⁷³[(i)

one or more banking company with-

(a)	-	any other banking institution under a scheme sanctioned and brought into force by the Central Government under sub-section (7) of section 45 of the Banking Regulation Act, 1949 (10 of 1949); or
(b)	-	any other banking institution or a company subsequent to a strategic disinvestment, wherein the amalgamation is carried out within a period of five years from the end of the previous year during which such strategic disinvestment is carried out; or]

Google Play store