Section 72A(7)(a) in The Income Tax Act, 1961

[Cites 0, Cited by 1] [Section 72A(7)] [Section 72A] [Entire Act]

Union of India - Subsection

Section 72A(7)(a) in The Income Tax Act, 1961

(a)"accumulated loss" means so much of the loss of the predecessor firm or the proprietary concern or the private company or unlisted public company before conversion into limited liability partnership or the amalgamating company or the demerged company, as the case may be, under the head "Profits and gains of business or profession" (not being a loss sustained in a speculation business) which such predecessor firm or the proprietary concern or the company or amalgamating company or demerged company, would have been entitled to carry forward and set off under the provisions of section 72 if the reorganisation of business or conversion or amalgamation or demerger had not taken place;

(aa)"industrial undertaking" means any undertaking which is engaged in—

(i)the manufacture or processing of goods; or

(ii)the manufacture of computer software; or

(iii)the business of generation or distribution of electricity or any other form of power; or

(iiia)the business of providing telecommunication services, whether basic or cellular, including radio paging, domestic satellite service, network of trunking, broadband network and internet services; or

(iv)mining; or

(v)the construction of ships, aircrafts or rail systems;

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Union of India - Subsection

Section 72A(7)(a) in The Income Tax Act, 1961