High Court Allows Amalgamated Company's Claim for Unabsorbed Depreciation of Sick Company Under Section 32(2) of Income Tax Act, 1961. The court held that unabsorbed depreciation of amalgamating company is deemed to be depreciation of amalgamated company under Section 32(6) and can be carried forward irrespective of whether amalgamating company filed returns.
7 Sep 2017The case involves two income tax appeals filed by M/s. Ballarpur Industries Ltd. (BILT) against the Commissioner of Income Tax, Vidarbha, Nagpur, conc...




