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[Cites 0, Cited by 0] [Section 116(13)] [Section 116] [Entire Act]

Union of India - Subsection

Section 116(13)(a) in The Income Tax Act, 2025

(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, under the head "Profits and gains of business or profession" (excluding loss in a speculation business) which would have been eligible for carry forward and set off to such predecessor entity under section 112, had the reorganisation of business or conversion or amalgamation or demerger not occurred;