As - 16 qualifying assets

CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)

20 March 2012  

Consider following case for qualifying assets :-

Plant & Machinery - Time to complete installation 4 months.

DG Set - 1 month

Transformer - 1 month

Building - more than 1 year.

 

Whether all the above assets are qualifying assets ?

while identifying Qualifying assets whether all the assets in a group is to be seen separately or they are to be seen as a whole group?

In above case  DG & transformer are plant & machinery and so whether they are qualifying assets or not.

 

whether we consider total number of  assets as one group ?

Building has taken more than 1 year, so it is a qualifying asset. tell about others.