05 November 2008
Clause C of Para 99.1 say : That the amalgamating company has held continously as on date of amalgamation at least 3/4 of the book value of fixed assets held by it two years prior to date of amalgamation .
What is book value ? Gross block or Net block after Depreciation .
I mean to say that in books both things are their we are Booking assets at full value , and credit the Accumulated depreciation account towards dep each year .
In that case what value should i consider Book value or value after deperication
CAclubindia
