EFTA01366782.pdf

Amendment #4 Page 353 of 868 future estimated undscounted cash lbws expected from an asset are less than as camnrg value An impairment charge is measured as the difference between an assets carrying amount and far value with the difference recorded in operatrg costs and expenses in ore statement of income Fair values are determined by a vanety of valuation methods including appraisals. sales prices of similar assets and present value techniques. There were no imparmerts recognized during the quarters ended March 31, 2015 and 2014 Revenue recognition Tre Company's revenues are obtained trrough the sale of energy pursuant to terms of a power purchase agreement ('FPA') or other contractual arrangements which has a remang lee o122 years as of March 31, 2015 The FPA* &courted bras operabrg leases. haS no minimum lease payments and all of the rental income wider these lease is recorded as income when tre rateably a delivered. The cortingent rental income recognized in the quarters ended March 31, 2015 and 2014 was INR 07.520.971 and PP 85.197.536 respectively income faxes Ti-. income tax balances are determined and repeated in accordance wed FASB MC 740 rftSC 7401Income Taxes. Income taxes are acco.nted for wider the asset and lability method Deferred tax assets and liablares are recognized for the future lax consequences attributable to differences between the financial statement carrying amounts of exists-9 assets and liabilities a-id their respective tax bases arid operating less and tax credit carry forwards Deferred tax assets and liabilities we measured ring enacted tax rates expected to apply to taxable income in the years n such those temporary differences are expected to be recovered or settled We ignore the haute originating temporary differences and schedule the existing temporary differences when they °neonate and reverse on a testefirst-out tees when determinng the tax rate expected to apply for purposes of measuring deferred taxes. The effect on deferred tax assets and lobbies d a change in tax rate is recorded in operations in the period dud includes the enactment date Valuation allowances are established when managemert determines that it is mere likely than not that some noniron, or all of the deferred tax asset will not tie realized Deferred income taxes arse primanty because d diffeeences in the bases of assets cr liabilities between financial statement accounting and tax accounting which are known as temporary differences We record the tax sited of these temporary differences as deferred tax assets (generally items that can be used as a tax deduction or neat m Rune periods) and deferred tax !wanes (generally items for which we receive a tax deductien, but have not yet been recorded in the statement of income) Tre Company nerds to accourt for dividend dstributcn tax n equity in the yew in which a drvidend is declared We regularly review ow deferred tax assets for realizability, talang wto consideration al available evidence both posnwe and negative, include-9 historical pretax and taxable income, poacted future pretax and taxable ricome and the expected timing of the reverses of existing temporary differences In arming at these adgments. the wage given to the potential effect of al positive and negative evidence is commensurate wth the extent towhich it can be oteecbvely verified We believe ow tax positions are in compliance wth applicable tax laws and regatons Tax benefits are recognized only for tax possons that are more likely than not to be sustained upon examination try tax authontes The amount recognized is measured as to largest °mart of benefit that Is greater than 50 percent Wu* to be realized upon settlement We believe that our liabilities for unrecorded tax benefits including related interest are adequate in relation to the potential for addibcnal tax assessments There is a F-33 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058310 CONFIDENTIAL SDNY_GM_00204494 EFTA01366782