Tag: Mergers and Acquisitions
-
Restricting Carry-Forward of Losses: Analysing Reforms to the Income Tax Act
[Megha Porwal and Manav Pamnani are 3rd year B.A., LL.B. (Hons.) students at the NALSAR University of Law, Hyderabad] The Union Budget presented on 1 February 2025 marks a significant development in the jurisprudence pertaining to direct taxes in India. This is because it introduces a substantial amendment to sections 72a and 72AA of the Income Tax Act, 1961 (IT Act). The Bill proposes the insertion of
