Indian, AI merger may get income-tax relief

In a move that will smoothen the proposed merger of Indian and Air India, the Finance Ministry has indicated that it would consider favourably the request of the Ministry of Civil Aviation to provide income-tax relief under section 72 A of the Act for the proposal.

The provision deals with carry-forward and set-off of accumulated losses and unabsorbed depreciation in amalgamation or demerger cases.

Both Air India and Indian have accumulated losses on their balance sheets.

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