Under section 72A of Income tax act, 1961 carry forward and setting off of accumulated losses and unabsorbed depreciation of the amalgamating company is allowed against the __________ profits of the amalgamated company in order to encourage revival of sick units.

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Section 72A of the Income Tax Act, 1961, allows the carry forward and setting off of accumulated losses and unabsorbed depreciation of the amalgamating company against the future profits of the amalgamated company. This provision is aimed at encouraging the revival of sick units by allowing them to utilize their losses to reduce future tax liabilities.

Under Section 72A of Income Tax Act, 1961 Carry Forward