Objection to Scheme of Amalgamation can raise only before sanctioning by High Court: ITAT allows adjustment on Business Loss and set off of Capital Loss [Read Order]

Capital Loss - Business Loss - Scheme of Amalgamation - Amalgamation - High Court - ITAT - Income Tax - taxscan

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that an objection to scheme of Amalgamation can raise only before sanctioning by High Court and allowed adjustment on business loss and set off of capital loss. M/s. G. K. & Sons Pvt. Ltd, the assessee filed its return on 14.09.2011 reporting a…

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