Carry Forward & Set off Loss
This query is : Resolved
03 March 2009
can a company which takes over another company carry forward set off of losses of the loss making company.
Eg: A Ltd is a loss making company. B ltd acquires A ltd by purchase of Equity capital of A ltd.
Is B ltd eligible for carry forward & set off of losses of A ltd with its profit.
Is there any case law etc in this regard.
Eg: A Ltd is a loss making company. B ltd acquires A ltd by purchase of Equity capital of A ltd.
Is B ltd eligible for carry forward & set off of losses of A ltd with its profit.
Is there any case law etc in this regard.
04 March 2009
yes loss can be carry forward and set off by B ltd.
04 March 2009
Are there any restriction / compliances required to be made in this regard like busniess of A ltd to be continued for 5 years etc.
Can u pls quote the relevant section, case law etc in this regard
Can u pls quote the relevant section, case law etc in this regard
05 March 2009
refer sec 72A
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