21 January 2012
P Ltd. furnishes the following details in respect of Block of Assets No.5, entitled to 60% rate of depreciation : WDV on 1.4.10, consisting of five machines ` 25,00,000; Assets acquired during the year ` 10,50,000. Compute WDV/capital gain/loss in the following cases for the previous year 2010-11 under each of the following situations : (i) 3 machines have been sold during the year for ` 20,50,000 (ii) Entire block is sold during the year for ` 30,00,000 (iii) Entire block is sold during the year for ` 45,00,000. 8
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