Initial Letter Date |
Form filed |
Market Capitalization |
03/22/2012 |
20-F |
$ 16,200 M |
Your disclosure on page [xx] indicates that under Indian GAAP, a deferred tax asset is recognized and reassessed at each reporting date based on management's judgment as to whether their realization is considered reasonably certain. This appears to differ from the US GAAP requirement that a valuation allowance be recognized when it is more likely than not that the deferred tax asset will not be realized. Please tell us whether you consider this difference to be a reconciling item, and if not, tell us why not. |