If X Ltd. amalgamates with Y Ltd. then the accumulated business losses and unabsorbed depreciation of X Ltd. :

CS Executive · Tax Laws · PYQS · June 2024
If X Ltd. amalgamates with Y Ltd. then the accumulated business losses and unabsorbed depreciation of X Ltd. :
(A) Cannot be carried forward by Y Ltd.
(B) Can be carried forward by Y Ltd.
(C) Cannot be carried forward by X Ltd.
(D) Can be carried forward by X Ltd.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax

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