Accounting valuation compliance limits demerger tax provision applicability when resulting company records different asset and liability values under Indian accounting standards. The proviso excludes the sub-clause's application where the resulting company records the value of the property and liabilities of the undertaking(s) at values different from those in the books of the demerged company immediately before the demerger, provided such values are determined in compliance with the Indian Accounting Standards specified in the Annexure to the Companies (Indian Accounting Standards) Rules, 2015.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Accounting valuation compliance limits demerger tax provision applicability when resulting company records different asset and liability values under Indian accounting standards.
The proviso excludes the sub-clause's application where the resulting company records the value of the property and liabilities of the undertaking(s) at values different from those in the books of the demerged company immediately before the demerger, provided such values are determined in compliance with the Indian Accounting Standards specified in the Annexure to the Companies (Indian Accounting Standards) Rules, 2015.
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