法令翻訳 http://www.japaneselawtranslat...ky=&page=3

(特定資産に係る譲渡等損失額の損金不算入)
第六十二条の七  内国法人と特定資本関係法人（当該内国法人との間に特定資本関係（第五十七条第三項（青色申告書を提出した事業年度の欠損金の繰越し）に規定する特定資本関係をいう。以下この条において同じ。）がある法人をいう。）との間で当該内国法人を合併法人、分割承継法人又は被現物出資法人とする特定適格合併等（適格合併、適格分割又は適格現物出資のうち、第五十七条第五項に規定する共同で事業を営むための適格合併等として政令で定めるものに該当しないものをいう。以下この条において同じ。）が行われた場合において、当該特定資本関係が当該内国法人の当該特定適格合併等の日の属する事業年度（以下この項において「特定適格合併等事業年度」という。）開始の日の五年前の日以後に生じているときは、当該内国法人の適用期間（当該特定適格合併等事業年度開始の日から同日以後三年を経過する日（その経過する日が当該特定資本関係が生じた日以後五年を経過する日後となる場合にあつては、その五年を経過する日）までの期間（当該期間に終了する各事業年度において第六十一条の十一第一項（連結納税の開始に伴う資産の時価評価損益）若しくは第六十一条の十二第一項（連結納税への加入に伴う資産の時価評価損益）又は第六十二条の九第一項（非適格株式交換等に係る株式交換完全子法人等の有する資産の時価評価損益）の規定の適用を受ける場合には、当該特定適格合併等事業年度開始の日から第六十一条の十一第一項に規定する連結開始直前事業年度若しくは第六十一条の十二第一項に規定する連結加入直前事業年度又は第六十二条の九第一項の規定の適用を受ける事業年度終了の日までの期間）をいう。）において生ずる特定資産譲渡等損失額は、当該内国法人の各事業年度の所得の金額の計算上、損金の額に算入しない。

Exclusion of Losses on the Transfer of Specified Assets from Deductible Expenses
Article 62-7  In the case where a specific qualified merger, etc. (meaning a qualified merger, qualified company split, or qualified contribution in kind that does not fall under the category specified by Cabinet Order as a qualified merger, etc. for the purpose of conducting business jointly as prescribed in Article 57, paragraph (5); hereinafter the same applies in this Article) has been effected between a domestic corporation and a corporation with a specified capital relationship (meaning a corporation that has a specified capital relationship (meaning a specified capital relationship as prescribed in Article 57, paragraph (3) (Carryover of Losses in a Business Year When a Blue Return Has Been Filed); hereinafter the same applies in this Article) with the domestic corporation), with the domestic corporation as an acquiring corporation, succeeding corporation in a company split, or corporation receiving a capital contribution in kind, when the specified capital relationship was established on or after the day five years prior to the first day of the business year containing the date of the domestic corporation's relevant specific qualified merger, etc. (hereinafter referred to as the "business year of a specific qualified merger, etc." in this paragraph), the net operating loss on the transfer of specified assets that arises during the domestic corporation's applicable period (meaning the period from the first day of the business year of a specific qualified merger, etc. up to the day on which three years have elapsed therefrom (where the day is after the day on which five years have elapsed from the day on which the specified capital relationship was established, up to the day on which five years have elapsed) (in the case where each business year ending during the period is subject to the provisions of Article 61-11, paragraph (1) (Gains or Losses on the Fair Valuation of Assets Accompanying the Commencement of Consolidated Taxation), Article 61-12, paragraph (1) (Gain or Loss on the Fair Valuation of Assets Accompanying Participation in Consolidated Taxation), or Article 62-9, paragraph (1) (Gains or Losses on the Fair Valuation of Assets Held by Wholly Owned Subsidiary Corporations Involved in a Non-qualified Share Exchange), the period from the first day of the business year of a specific qualified merger, etc. up to the last day of the business year immediately prior to the commencement of consolidation as prescribed in Article 61-11, paragraph (1), the business year immediately prior to the participation in the consolidation prescribed in Article 61-12, paragraph (1), or the business year subject to the provisions of Article 62-9, paragraph (1))) is excluded from deductible expenses, when calculating the amount of income of the domestic corporation for each business year.一  前項の内国法人が同項の特定資本関係法人から特定適格合併等により移転を受けた資産で当該特定資本関係法人が当該特定資本関係が生じた日（次号において「特定資本関係発生日」という。）前から有していたもの（政令で定めるものを除く。以下この号において「特定引継資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定引継資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(i)  the amount obtained by deducting the total profits resulting from a transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph has received from the corporation with a specified capital relationship set forth in the paragraph, as a result of a specific qualified merger, etc., and which the corporation with a specified capital relationship had owned prior to the day on which the specified capital relationship was established (referred to as the "date of the occurrence of a specified capital relationship" in the following item) (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified succeeded assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, or removal of the specified succeeded assets, or any other equivalent grounds; and二  前項の内国法人が特定資本関係発生日前から有していた資産（政令で定めるものを除く。以下この号において「特定保有資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定保有資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(ii)  the amount obtained by deducting the total profits resulting from the transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph had owned prior to the date of the occurrence of a specified capital relationship (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified owned assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, removal or on any other equivalent grounds of the specified owned assets.

前項に規定する特定資産譲渡等損失額とは、次に掲げる金額の合計額をいう。

The net operating loss on the transfer of specified assets as prescribed in the preceding paragraph means the sum of the amounts listed as follows:一  前項の内国法人が同項の特定資本関係法人から特定適格合併等により移転を受けた資産で当該特定資本関係法人が当該特定資本関係が生じた日（次号において「特定資本関係発生日」という。）前から有していたもの（政令で定めるものを除く。以下この号において「特定引継資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定引継資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(i)  the amount obtained by deducting the total profits resulting from a transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph has received from the corporation with a specified capital relationship set forth in the paragraph, as a result of a specific qualified merger, etc., and which the corporation with a specified capital relationship had owned prior to the day on which the specified capital relationship was established (referred to as the "date of the occurrence of a specified capital relationship" in the following item) (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified succeeded assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, or removal of the specified succeeded assets, or any other equivalent grounds; and二  前項の内国法人が特定資本関係発生日前から有していた資産（政令で定めるものを除く。以下この号において「特定保有資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定保有資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(ii)  the amount obtained by deducting the total profits resulting from the transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph had owned prior to the date of the occurrence of a specified capital relationship (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified owned assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, removal or on any other equivalent grounds of the specified owned assets.

前二項の規定は、特定資本関係がある被合併法人等（被合併法人、分割法人及び現物出資法人をいう。以下この項において同じ。）と他の被合併法人等との間で法人を設立する特定適格合併等が行われた場合において、当該特定資本関係が当該特定適格合併等の日の五年前の日以後に生じているときについて準用する。この場合において、第一項中「当該内国法人の適用期間」とあるのは「当該特定適格合併等により設立された内国法人の適用期間」と、前項第一号中「同項の特定資本関係法人から特定適格合併等」とあるのは「特定適格合併等に係る次項に規定する被合併法人等（次号に規定する他の被合併法人等を除く。）から当該特定適格合併等」と、「当該特定資本関係法人」とあるのは「当該被合併法人等」と、同項第二号中「特定資本関係発生日前から有していた資産」とあるのは「特定適格合併等に係る他の被合併法人等から当該特定適格合併等により移転を受けた資産で当該他の被合併法人等が当該特定資本関係発生日前から有していたもの」と読み替えるものとする。

The provisions of the preceding two paragraphs apply mutatis mutandis to the case where a specific qualified merger, etc. aiming to establish a corporation has been effected between an acquired corporation, etc. (meaning an acquired corporation, splitting corporation, or corporation making a capital contribution in kind; hereinafter the same applies in this paragraph) that has a specified capital relationship and another acquired corporation, etc., and when the specified capital relationship was established on or after the day five years prior to the date of the specific qualified merger, etc.In this case, the term "the domestic corporation's applicable period" in paragraph (1) is deemed to be replaced with "the applicable period of a domestic corporation established as a result of the specific qualified merger, etc."; the term "from the corporation with a specified capital relationship set forth in the paragraph, as a result of a specific qualified merger, etc." in item (i) of the preceding paragraph is deemed to be replaced with "from the acquired corporation, etc. prescribed in the following paragraph involved in a specific qualified merger, etc. (excluding another acquired corporation, etc. as prescribed in the following item), as a result of the specific qualified merger, etc. "; the term "the corporation with a specified capital relationship" in the item is deemed to be replaced with "the acquired corporation, etc."; and the term "the assets that the domestic corporation set forth in the preceding paragraph had owned prior to the date of the occurrence of a specified capital relationship" in item (ii) of the preceding paragraph is deemed to be replaced with "the assets that the domestic corporation set forth in the preceding paragraph has received from another acquired corporation, etc. involved in a specific qualified merger, etc., as a result of the specific qualified merger, etc., and which the other acquired corporation etc, had owned prior to the date of the occurrence of the specified capital relationship."一  前項の内国法人が同項の特定資本関係法人から特定適格合併等により移転を受けた資産で当該特定資本関係法人が当該特定資本関係が生じた日（次号において「特定資本関係発生日」という。）前から有していたもの（政令で定めるものを除く。以下この号において「特定引継資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定引継資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(i)  the amount obtained by deducting the total profits resulting from a transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph has received from the corporation with a specified capital relationship set forth in the paragraph, as a result of a specific qualified merger, etc., and which the corporation with a specified capital relationship had owned prior to the day on which the specified capital relationship was established (referred to as the "date of the occurrence of a specified capital relationship" in the following item) (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified succeeded assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, or removal of the specified succeeded assets, or any other equivalent grounds; and二  前項の内国法人が特定資本関係発生日前から有していた資産（政令で定めるものを除く。以下この号において「特定保有資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定保有資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(ii)  the amount obtained by deducting the total profits resulting from the transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph had owned prior to the date of the occurrence of a specified capital relationship (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified owned assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, removal or on any other equivalent grounds of the specified owned assets.

第一項に規定する特定資本関係法人又は前項に規定する被合併法人等が特定適格合併等の直前において第六十条の三第一項（特定株主等によつて支配された欠損等法人の資産の譲渡等損失額の損金不算入）に規定する欠損等法人（次項及び第六項において「欠損等法人」という。）であり、かつ、当該特定適格合併等が同条第一項に規定する適用期間内に行われるものであるときは、第一項の内国法人が当該特定資本関係法人又は当該被合併法人等から当該特定適格合併等により移転を受けた資産については、当該特定適格合併等に係る同項（前項において準用する場合を含む。第六項において同じ。）の規定は、適用しない。

When a corporation with a specified capital relationship as prescribed in paragraph (1) or an acquired corporation, etc. as prescribed in the preceding paragraph is a corporation showing a loss, etc. as prescribed in Article 60-3, paragraph (1) (Exclusion from Deductible Expenses of the Net Operating Losses on the Transfer of Assets of a Corporation Showing a Loss That Is Controlled by a Specified Shareholder) (referred to as a "corporation showing a loss, etc." in the following paragraph and paragraph (6)) as of immediately prior to a specific qualified merger, etc., and when the specific qualified merger, etc. is effected during the applicable period prescribed in paragraph (1) of the Article, the provisions of paragraph (1) pertaining to the specific qualified merger, etc. (including the case applied mutatis mutandis pursuant to the preceding paragraph; the same applies in paragraph (6))do not apply to the assets that the domestic corporation set forth in paragraph (1) has received from the corporation with a specified capital relationship or acquired corporation, etc., as a result of the specific qualified merger, etc.一  前項の内国法人が同項の特定資本関係法人から特定適格合併等により移転を受けた資産で当該特定資本関係法人が当該特定資本関係が生じた日（次号において「特定資本関係発生日」という。）前から有していたもの（政令で定めるものを除く。以下この号において「特定引継資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定引継資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(i)  the amount obtained by deducting the total profits resulting from a transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph has received from the corporation with a specified capital relationship set forth in the paragraph, as a result of a specific qualified merger, etc., and which the corporation with a specified capital relationship had owned prior to the day on which the specified capital relationship was established (referred to as the "date of the occurrence of a specified capital relationship" in the following item) (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified succeeded assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, or removal of the specified succeeded assets, or any other equivalent grounds; and二  前項の内国法人が特定資本関係発生日前から有していた資産（政令で定めるものを除く。以下この号において「特定保有資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定保有資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(ii)  the amount obtained by deducting the total profits resulting from the transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph had owned prior to the date of the occurrence of a specified capital relationship (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified owned assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, removal or on any other equivalent grounds of the specified owned assets.

第一項の内国法人が欠損等法人であり、かつ、特定適格合併等が第六十条の三第一項に規定する適用期間内に行われるものであるときは、当該内国法人が有する資産については、当該特定適格合併等に係る第一項の規定は、適用しない。

When the domestic corporation set forth in paragraph (1) is a corporation showing a loss, etc., and when a specific qualified merger, etc. is effected during the applicable period prescribed in Article 60-3, paragraph (1), the provisions of paragraph (1) pertaining to the specific qualified merger, etc. do not apply to the assets that the domestic corporation owns.一  前項の内国法人が同項の特定資本関係法人から特定適格合併等により移転を受けた資産で当該特定資本関係法人が当該特定資本関係が生じた日（次号において「特定資本関係発生日」という。）前から有していたもの（政令で定めるものを除く。以下この号において「特定引継資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定引継資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(i)  the amount obtained by deducting the total profits resulting from a transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph has received from the corporation with a specified capital relationship set forth in the paragraph, as a result of a specific qualified merger, etc., and which the corporation with a specified capital relationship had owned prior to the day on which the specified capital relationship was established (referred to as the "date of the occurrence of a specified capital relationship" in the following item) (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified succeeded assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, or removal of the specified succeeded assets, or any other equivalent grounds; and二  前項の内国法人が特定資本関係発生日前から有していた資産（政令で定めるものを除く。以下この号において「特定保有資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定保有資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(ii)  the amount obtained by deducting the total profits resulting from the transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph had owned prior to the date of the occurrence of a specified capital relationship (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified owned assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, removal or on any other equivalent grounds of the specified owned assets.

第一項の内国法人が特定適格合併等後に欠損等法人となり、かつ、第六十条の三第一項に規定する適用期間が開始したときは、第一項に規定する適用期間は、同条第一項に規定する適用期間開始の日の前日に終了するものとする。

When the domestic corporation set forth in paragraph (1) becomes a corporation showing a loss, etc. after a specific qualified merger, etc., and when the applicable period prescribed in Article 60-3, paragraph (1) has started, the applicable period prescribed in paragraph (1) is to end on the day preceding the day on which the applicable period prescribed in Article 60-3, paragraph (1) starts.一  前項の内国法人が同項の特定資本関係法人から特定適格合併等により移転を受けた資産で当該特定資本関係法人が当該特定資本関係が生じた日（次号において「特定資本関係発生日」という。）前から有していたもの（政令で定めるものを除く。以下この号において「特定引継資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定引継資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(i)  the amount obtained by deducting the total profits resulting from a transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph has received from the corporation with a specified capital relationship set forth in the paragraph, as a result of a specific qualified merger, etc., and which the corporation with a specified capital relationship had owned prior to the day on which the specified capital relationship was established (referred to as the "date of the occurrence of a specified capital relationship" in the following item) (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified succeeded assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, or removal of the specified succeeded assets, or any other equivalent grounds; and二  前項の内国法人が特定資本関係発生日前から有していた資産（政令で定めるものを除く。以下この号において「特定保有資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定保有資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(ii)  the amount obtained by deducting the total profits resulting from the transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph had owned prior to the date of the occurrence of a specified capital relationship (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified owned assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, removal or on any other equivalent grounds of the specified owned assets.

連結子法人である内国法人が、第五十七条第十項に規定する連結法人単体事業年度において特定適格合併等（当該内国法人を合併法人又は分割承継法人とする適格合併又は適格分割で、当該内国法人との間に連結完全支配関係がない法人（同項第一号に規定する政令で定める法人を除く。）を被合併法人又は分割法人とするものに限る。）を行つた場合には、当該内国法人の第二項第二号に規定する特定保有資産については、当該特定適格合併等に係る第一項の規定は、適用しない。

In the case where a domestic corporation, which is a consolidated subsidiary corporation, has effected a specific qualified merger, etc. (limited to a qualified merger or qualified company split, wherein the domestic corporation is an acquiring corporation or succeeding corporation in a company split, and wherein a corporation that does not have a consolidated full controlling interest in the domestic corporation (excluding a corporation specified by Cabinet Order as prescribed in Article 57, paragraph (10), item (i)) is an acquired corporation or splitting corporation), the provisions of paragraph (1) pertaining to the specific qualified merger, etc. do not apply to the domestic corporation's specified owned assets prescribed in paragraph (2), item (ii).一  前項の内国法人が同項の特定資本関係法人から特定適格合併等により移転を受けた資産で当該特定資本関係法人が当該特定資本関係が生じた日（次号において「特定資本関係発生日」という。）前から有していたもの（政令で定めるものを除く。以下この号において「特定引継資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定引継資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(i)  the amount obtained by deducting the total profits resulting from a transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph has received from the corporation with a specified capital relationship set forth in the paragraph, as a result of a specific qualified merger, etc., and which the corporation with a specified capital relationship had owned prior to the day on which the specified capital relationship was established (referred to as the "date of the occurrence of a specified capital relationship" in the following item) (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified succeeded assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, or removal of the specified succeeded assets, or any other equivalent grounds; and二  前項の内国法人が特定資本関係発生日前から有していた資産（政令で定めるものを除く。以下この号において「特定保有資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定保有資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(ii)  the amount obtained by deducting the total profits resulting from the transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph had owned prior to the date of the occurrence of a specified capital relationship (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified owned assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, removal or on any other equivalent grounds of the specified owned assets.

第二項第一号に規定する損失の額の計算その他前各項の規定の適用に関し必要な事項は、政令で定める。

The calculation of the net operating loss prescribed in paragraph (2), item (i) and other necessary matters concerning the application of the provisions of the preceding paragraphs are specified by Cabinet Order.一  前項の内国法人が同項の特定資本関係法人から特定適格合併等により移転を受けた資産で当該特定資本関係法人が当該特定資本関係が生じた日（次号において「特定資本関係発生日」という。）前から有していたもの（政令で定めるものを除く。以下この号において「特定引継資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定引継資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(i)  the amount obtained by deducting the total profits resulting from a transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph has received from the corporation with a specified capital relationship set forth in the paragraph, as a result of a specific qualified merger, etc., and which the corporation with a specified capital relationship had owned prior to the day on which the specified capital relationship was established (referred to as the "date of the occurrence of a specified capital relationship" in the following item) (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified succeeded assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, or removal of the specified succeeded assets, or any other equivalent grounds; and二  前項の内国法人が特定資本関係発生日前から有していた資産（政令で定めるものを除く。以下この号において「特定保有資産」という。）の譲渡、評価換え、貸倒れ、除却その他これらに類する事由による損失の額の合計額から特定保有資産の譲渡又は評価換えによる利益の額の合計額を控除した金額(ii)  the amount obtained by deducting the total profits resulting from the transfer or revaluation of the assets that the domestic corporation set forth in the preceding paragraph had owned prior to the date of the occurrence of a specified capital relationship (such assets exclude those specified by Cabinet Order; hereinafter referred to as the "specified owned assets" in this item) from the total loss arising due to the transfer, revaluation, bad debts, removal or on any other equivalent grounds of the specified owned assets.