Successor Co-op. Societies can’t claim set-off losses of amalgamating societies; Sec. 72A meant for

IT: Section 72A provides for setting off losses on amalgamation of companies only - There is no provision in the Income-tax Act, which would permit the amalgamating co-operative society to carry forward and adjust such losses against the profits of the amalgamated co-operative society – Benefits conferred to one class of legal entities does not mean that the legal entities not referred to in the Act would also get the same benefit