{"id":13071,"date":"2020-10-18T09:55:00","date_gmt":"2020-10-18T09:55:00","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-padma-logistics-and-khanij-pvt-ltd-2020-81-itr-61-kol-trib-3\/"},"modified":"2021-09-23T06:30:00","modified_gmt":"2021-09-23T01:00:00","slug":"acit-v-padma-logistics-and-khanij-pvt-ltd-2020-81-itr-61-kol-trib-3","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-padma-logistics-and-khanij-pvt-ltd-2020-81-itr-61-kol-trib-3\/","title":{"rendered":"ACIT v. Padma Logistics and Khanij Pvt. Ltd. (2020) 81 ITR 61\/ 183 ITD 891\/208 TTJ 67  (Kol) (Trib)"},"content":{"rendered":"<p>AO rejected the revised return and held that the\u00a0\u00a0 assessee is not entitle to\u00a0\u00a0 Carry forward and set off of accumulated loss and unabsorbed depreciation. CIT (A) allowed the claim of the assessee .On appeal the Tribunal held that all the conditions stated in S. \u00a072A(4)\u00a0read with S. \u00a02(19AA)\u00a0had been fulfilled. Since the assessee met all the requirements contained in the Act all the carried forward losses and unabsorbed depreciation in respect of the vortal undertaking were transferred, pursuant to S. \u00a072A(4)\u00a0from the demerged company) to the resulting company with effect from the appointed date, i. e., March 1, 2010. The claim of the assessee was in accordance with law and the Assessing Officer erred in refusing to consider the revised return and the Commissioner (Appeals) had rightly allowed the claim of the assessee.<em>\u00a0 <\/em>Followed <em>\u00a0<\/em>Dalmia power Ltd \u00a0v. ACIT ( 2020) 420 ITR 339 (SC) ( AY.2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 72A : Carry forward and set off of accumulated loss and unabsorbed depreciation \u2013 Amalgamation \u2013 revised return after order form High Court \u2013 Entitled to set off and  carry forward of  accumulated losses and  unabsorbed depreciation   [ S.2(19AA) , 32(2) ,72A(4) , 139(3)  ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13071","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3oP","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13071"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13071\/revisions"}],"predecessor-version":[{"id":21626,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13071\/revisions\/21626"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}