ACIT, CIRCLE - 13(2), KOLKATA , KOLKATA vs. M/S. PADMA LOGISTICS & KHANIJ PRIVATE LIMITED , KOLKATA

In the result, the revenue’s appeal is partly allowed for statistical purposes

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

property or assets of the demerged company or any undertaking thereof by the resulting company; vi) The transfer of the undertaking is on a going concern basis. 29. Once demerger is sanctioned by the Hon’ble High court the enabling provision is section 72A of the Act, which allows carry forward and set off of accumulated loss and unabsorbed depreciation

NEZONE TUBES LIMITED,KOLKATA vs. DCIT, CIRCLE 1(1), KOLKATA

In the result, the appeal filed by the assessee is allowed