Unabsorbed Depreciation - Definition / Legal Terminology - Income Tax

Explanation.(vii) -For the purposes of section 72AA of the Income tax Act 1961,- Unabsorbed Depreciation means- so much of the allowance for depreciation of the amalgamating banking company or companies or amalgamating corresponding new bank or banks or amalgamating Government company or companies which remains to be allowed and which would have been allowed to such banking company or companies or amalgamating corresponding new bank or banks or amalgamating Government company or companies, if the amalgamation had not taken place. For the purposes of section 72AB(7)(b) of the Income tax Act 1961, Unabsorbed Depreciation means- so much of the allowance for depreciation of the amalgamating co-operative bank or the demerged co-operative bank, as the case may be, which remains to be allowed and which would have been allowed to such bank as if the business reorganisation had not taken place;