https://www.taxtmi.com/caselaws?id=99924 Interconnected undertakings are treated as a single unit where the statutory tests of common management or a subsidiary relationship are met, and that classification can justify grouping their assets for registrability. For valuation of assets under the Act, the relevant figure is the book value after only the adjustments expressly provided, so general liabilities are not deductible and investments in subsidiaries are not excluded. Advance tax actually paid may be left out because it has gone out of the company's funds, but a mere tax provision does not reduce asset value. A writ petition can lie against a show-cause notice threatening prosecution where the notice is founded on an alleged misconstruction of the statute. en-us Tue, 14 Oct 1980 00:00:00 +0530 Mon, 30 Jan 2012 16:04:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99924 Interconnected undertakings are treated as a single unit where the statutory tests of common management or a subsidiary relationship are met, and that classification can justify grouping their assets for registrability. For valuation of assets under the Act, the relevant figure is the book value after only the adjustments expressly provided, so general liabilities are not deductible and investments in subsidiaries are not excluded. Advance tax actually paid may be left out because it has gone out of the company's funds, but a mere tax provision does not reduce asset value. A writ petition can lie against a show-cause notice threatening prosecution where the notice is founded on an alleged misconstruction of the statute. Case-Laws Companies Law Tue, 14 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99924