https://www.taxtmi.com/caselaws?id=111312 SC upheld the notification adopting AS 22 for listed companies, holding the Standard is neither ultra vires nor inconsistent with the Companies Act (including Schedule VI). The Court noted challenges alleging AS 22's deferred taxation provisions violated Articles 14 and 19(1)(g) were not argued before the HC and therefore declined to express any opinion on those constitutional issues, leaving them open. The ruling affirmed the validity of adopting AS 22 for accounting purposes while reserving judgment on alleged constitutional restrictions and business-carrying rights. en-us Mon, 19 Nov 2007 00:00:00 +0530 Fri, 12 Sep 2025 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111312 SC upheld the notification adopting AS 22 for listed companies, holding the Standard is neither ultra vires nor inconsistent with the Companies Act (including Schedule VI). The Court noted challenges alleging AS 22's deferred taxation provisions violated Articles 14 and 19(1)(g) were not argued before the HC and therefore declined to express any opinion on those constitutional issues, leaving them open. The ruling affirmed the validity of adopting AS 22 for accounting purposes while reserving judgment on alleged constitutional restrictions and business-carrying rights. Case-Laws Income Tax Mon, 19 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111312