https://www.taxtmi.com/forum/issue?id=120837 Acquisition of a company under liquidation through e-auction as a going concern is treated in substance as a business acquisition, not an amalgamation under AS 14. The assets and liabilities are recognised at fair value or estimated realisable value, with excess consideration treated as goodwill and surplus net assets credited to capital reserve. The transaction is not internal reconstruction; the revived entity should show a fresh financial position, with pre-liquidation reserves and losses not carried forward and proper disclosures under AS 1. Transfer of a business as a going concern is also described as an exempt supply for GST, subject to going concern conditions. en-us Tue, 24 Mar 2026 18:04:15 +0530 Sat, 28 Mar 2026 11:36:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120837 Acquisition of a company under liquidation through e-auction as a going concern is treated in substance as a business acquisition, not an amalgamation under AS 14. The assets and liabilities are recognised at fair value or estimated realisable value, with excess consideration treated as goodwill and surplus net assets credited to capital reserve. The transaction is not internal reconstruction; the revived entity should show a fresh financial position, with pre-liquidation reserves and losses not carried forward and proper disclosures under AS 1. Transfer of a business as a going concern is also described as an exempt supply for GST, subject to going concern conditions. Discussion-Forum Companies Law Tue, 24 Mar 2026 18:04:15 +0530 https://www.taxtmi.com/forum/issue?id=120837