In the result, both the appeals are partly allowed
Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury
capital loss of the amalgamating company, which the AO denied by relying on section 72A of the Act. 10. Section 72A with the heading: “Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger etc.,” defines the term `accumulated loss’ under sub-section (7) to mean: `so much of the loss