04 May 2010
S. 35AD says one can have New Plant and Machinery only... but one of the exceptions to it is that one can have 20% of total plant and Machinery as old. e.g. New Machinery is 8,00,000 so one must have at least 80% of new machinery out of total machinery so in this case Maximum old machinery can be used is that of Rs. 2,00,000 so here Total Machinery 10,00,000 Old Machinery 2,00,000 New Machinery 8,00,000
CAclubindia
