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Accounting for wasting asets

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(Querist)
30 December 2009 AS-6 & AS-10 is not applicable to wasting assets hence how shall such assets be treated in the books of accounts in respect of depreciation and asset valuation ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
30 December 2009 it can be charged off fully in the year of purchase
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