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[Cites 0, Cited by 0] [Section 117(3)] [Section 117] [Entire Act]

Union of India - Subsection

Section 117(3)(a) in The Income Tax Act, 2025

(a)"accumulated loss" means so much of the loss of the amalgamating banking company or companies or amalgamating corresponding new bank or banks or amalgamating Government company or companies under the head "Profits and gains of business or profession" (excluding losses of a speculation business) which such predecessor entity would have been entitled to carry forward and set off under section 112 had the amalgamation not occurred;