Income-tax Act, 1961
Section - 72AB - Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks
Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks.72AB. (1) The assessee, being a successor co-operative bank, shall, in a case where the amalgamation has taken place during the previous year, be allowed to set off the accumulated loss and the unabsorbed depreciation, if any, of the predecessor co-operative bank as if the amalgamation had not taken place, and all the other provisions of this Act relating to set off and carry forward of loss and allowance for depreciation shall apply accordingly.(2) The provisions of this section shall apply if-
| (a) | - | the predecessor co-operative bank- |
| (i) | - | has been engaged in the business of banking for three or more years; and |
| (ii) | - | has held at least three-fourths of the book value of fixed assets as on the date of the .... To read the full section download the app from Google Play store
22 September 2026
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