Mou

A company has two units. The company now wants to separate one of its unit. the said unit is mortgage with bank. the bank has not yet given the NOC . the legal procedure of separation is under process. In that case the company wants no more to take the sales and expenses proceeds of the UNIT in the Books of accounts of the company. is it possible?? Will the Income tax department accept it or not... Kindly help me Separatin Means :One of the director will take it (It will be not sold) value of the unit will be adjusted with the shares