Dismissing the appeal, that the relevant provisions of section 72A read with rule 9C of the Income-tax Rules, 1962 , were very clear. These provisions stipulate that after the merger, within four years, the amalgamated company should achieve at least 50 per cent. of the installed capacity of production. Though the Tribunal, in its order, had not discussed the facts and figures as discussed by the Commissioner (Appeals) it had observed that the failure to file prescribed form 62 for the third AY., after amalgamation, namely the AY. 2006-07, was not relevant, because the mark of 50 per cent. of installed capacity of production can be achieved at any point of time within four years after the date of merger, which was April 1, 2003. Even though the exact date of crossing over the mark of 50 per cent. was not ascertainable, the fact was undisputed that in the fourth year, the amalgamated company achieved more than 100 per cent. of its installed capacity of production. The requirement of filing of the requisite information in form 62 for the third AY. could not be said to be a condition precedent or a mandatory condition to allow the assessee to carry forward such losses under section 72A . The condition of filing form 62, at best, is only directory and failure to comply therewith would not disentitle the assessee to claim such carried forward losses to be set off against the profits of the assessee. No substantial question of law arose for consideration.( AY:2006-07)