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HomeDirect TaxAmalgamated Company Can’t Claim Set-Off of Predecessor’s Losses Under Kerala Agricultural Income...

Amalgamated Company Can’t Claim Set-Off of Predecessor’s Losses Under Kerala Agricultural Income Tax Act: Supreme Court

Direct TaxSupreme Court

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By Mariya Paliwala
Supreme Court

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The Supreme Court of India has held that an amalgamated company cannot claim set-off of accumulated losses incurred by the amalgamating company under the provisions of the Kerala Agricultural Income Tax Act, 1991.  The bench of Justice Rajesh Bindal and Justice Vijay Bishnoi has observed that Section 12 of the Act permits carry-forward and set-off…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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