"If" statement indenting disagrees with actual logic

[jimahlstrom]

In files anf.c and anr.c at line 111 the following appears:
 if (nev < nel)
  if((a->lidx += a->lincr) > a->lidx_max) a->lidx = a->lidx_max;
 else
  if((a->lidx -= a->ldecr) < a->lidx_min) a->lidx = a->lidx_min;

But the C compiler interprets this as:
 if (nev < nel) {
  if((a->lidx += a->lincr) > a->lidx_max)
   a->lidx = a->lidx_max;
  else if((a->lidx -= a->ldecr) < a->lidx_min)
   a->lidx = a->lidx_min;
 }

That is, the "else" goes with the nearest "if". If the indenting is correct, we must add curly braces. If the logic is correct we must change the indentation and again add curly braces for clarity.

Which is correct, the indenting or the logic?