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TypeBare Act JurisdictionCentral Government

Finance Act 2007 Section 20

Amendment of Section 72a

~1 min read
https://sooperkanoon.com/act/443533

Bare act section · Research

About this section

Finance Act 2007 Section 20 is part of Finance Act 2007 - Amendment of Section 72a. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 72A of the Income-tax Act, for sub-section (1), the following subsection shall be substituted with effect from the 1st day of April, 2008, namely:--

"(1) Where there has been an amalgamation of--

(a) a company owning an industrial undertaking or a ship or a hotel with another company; or

(b) a banking company referred to in clause (c) of section 5 of the Banking Regulation Act, 1949(10 of 1949) with a specified bank; or

(c) one or more public sector company or companies engaged in the business of operation of aircraft with one or more public sector company or companies engaged in similar business,

then, notwithstanding anything contained in any other provision of this Act, the accumulated loss and the unabsorbed depreciation of the amalgamating company shall be deemed to be the loss or, as the case may be, allowance for unabsorbed depreciation of the amalgamated company for the previous year in which the amalgamation was effected, and other provisions of this Act relating to set off and carry forward of loss and allowance for depreciation shall apply accordingly.".

Frequently asked questions

What does Finance Act 2007 Section 20 provide?

Section Section 20 of the Finance Act 2007 (Amendment of Section 72a) is reproduced on this page as part of the Finance Act 2007. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act 2007 Section 20?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 2007 Section 20. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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