Section 53A in The Companies (Indian Accounting Standards) Rules, 2015
53A. Fair value differs from value in use. Fair value reflects the assumptions market participants would use when pricing the asset. In contrast, value in use reflects the effects of factors that may be specific to the entity and not applicable to entities in general. For example, fair value does not reflect any of the following factors to the extent that they would not be generally available to market participants:
(a)additional value derived from the grouping of assets (such as the creation of a portfolio of investment properties in different locations);(b)synergies between the asset being measured and other assets;(c)legal rights or legal restrictions that are specific only to the current owner of the asset; and(d)tax benefits or tax burdens that are specific to the current owner of the asset.Foreign currency future cash flows
