⭐ Important points (exam-critical)
- ⭐Permanent differences (e.g., disallowance under IT Act) — no deferred tax.
- ⭐DTA on carry-forward losses requires convincing evidence of future taxable income.
- ⭐Tax effect of business combinations adjusted in goodwill / bargain purchase.
- ⭐Ind AS 12 differs from AS 22 — balance sheet vs P&L approach; AS 22 used income statement approach.
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