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[Cites 0, Cited by 0] [Section 72AA] [Entire Act]

Union of India - Subsection

Section 72AA(i) in The Income Tax Act, 1961

(i)"accumulated loss" means so much of the loss of the amalgamating banking company under the head "Profits and gains of business or profession" (not being a loss sustained in a speculation business) which such amalgamating banking company, would have been entitled to carry forward and set off under the provisions of section 72 if the amalgamation had not taken place;