Section 72a - cf losses on amalgamation
This query is : Resolved
Elroy Joseph Lewis
(Querist)
11 January 2016
Dear All,
The amalgamating company is a manufacturing company involved in manufacture of GPS related tracking devices. The company is under loss and the group company which is a service sector company providing Heavy transportation services desires to amalgamate the loss making company with it.
Whether the amalgamated company can avail deduction of CF losses of the amalgamating company even if the operations are different from the amalgamating company?
Please provide your valuable suggestions
Thanks & Regards
Elroy
The amalgamating company is a manufacturing company involved in manufacture of GPS related tracking devices. The company is under loss and the group company which is a service sector company providing Heavy transportation services desires to amalgamate the loss making company with it.
Whether the amalgamated company can avail deduction of CF losses of the amalgamating company even if the operations are different from the amalgamating company?
Please provide your valuable suggestions
Thanks & Regards
Elroy
CA PARAS BAFNA
(Expert)
11 January 2016
The benefits will be available to the amalgamated co irrespective of the fact that line of activity is different.
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