https://www.taxtmi.com/caselaws?id=111263 The court dismissed all writ applications, upholding the validity of AS-22. It ruled that the Accounting Standard is consistent with the Companies Act and the Constitution, ensuring the company's financial statements present a true and fair view. The court found no merit in arguments regarding the ultra vires nature, conflict with statutory provisions, inconsistency with Schedule VI, retrospective application, or the nature of deferred tax liability. en-us Thu, 19 Apr 2007 00:00:00 +0530 Sat, 21 Apr 2012 15:09:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111263 The court dismissed all writ applications, upholding the validity of AS-22. It ruled that the Accounting Standard is consistent with the Companies Act and the Constitution, ensuring the company's financial statements present a true and fair view. The court found no merit in arguments regarding the ultra vires nature, conflict with statutory provisions, inconsistency with Schedule VI, retrospective application, or the nature of deferred tax liability. Case-Laws Companies Law Thu, 19 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111263