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ACCOUNTING STANDARD APPLICABLE

This query is : Resolved 
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(Querist)
08 August 2008 CAN U HELP ME IN THE FOLLOWING MATTER:-

A COMPANY X WAS INCORPORATED IN 1970 AND CLOSED ITS OPERATIONS IN 2001 DUE TO LABOUR STRIKE.

IT WAS REINSTATED IN 2008 WITH THE HELP OF BIFR AND THEN A NEW COMPANY Y WAS MADE WHICH WAS SUBSIDIARY OF COMPANY X
AND FIXED ASSETS OF RS 150 CRORES WAS TRANSFERRED TO COMPANY Y BY COMPANY X AT INCOME TAX WDV

CAN U SUGGEST WHICH ACCOUNTING STANDARDS WILL BE APPLICABLE AND HOW AS-10 WILL DEAL WITH THIS ISSUE?
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Taranjit Singh

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Taranjit Singh (Expert)
05 October 2009 Hello, is this an old query still pending? You can send me a Pm if yes....
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Taranjit Singh

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Taranjit Singh (Expert)
05 October 2009 Hello, is this an old query still pending? You can send me a Pm if yes....
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