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[Cites 0, Cited by 0] [Section 118(2)] [Section 118] [Entire Act]

Union of India - Subsection

Section 118(2)(b) in The Income Tax Act, 2025

(b)is not directly relatable to the undertaking transferred, then such accumulated loss or unabsorbed depreciation shall first be apportioned between the demerged co-operative bank and the resulting co-operative bank in the same proportion in which assets of the undertaking are distributed between the demerged co-operative bank and the resulting co-operative bank, and be allowed to be carried forward and set off against their respective incomes.