Sir, in as-2 ,ppe definition starts with, ppe are tangible items....... So on. Then why we write intangible assets under the head of PPE in balance sheet under schedule-III
Accounting standards cover computations , measurement , accounting treatment as well as disclosures. Disclosures are also covered by SCH III. The item specifically highlighted by you is covered by SCH III. Secondly Companies Act is a legislation. AS are pronouncement of ICAI. Legislation over rides pronouncements.