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Impairment of Assets

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(Querist)
20 March 2009 HI Experts,

How the loss on Impairment of assets will be treated in P&L and balance sheet, any effect in MAT calculation.

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Ashish Aggarwal

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Ashish Aggarwal (Expert)
03 April 2009 Impairment of assets will be considered as a exceptional item and will be disclosed accordingly as per AS-5.
It will be part of MAT calculation however for Income tax purpose this loss will be disallowed.
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