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Querist : Anonymous (Querist)
06 September 2010 " current repair means expenditure incured on building or matchinery not for the purpose of renewal or restoration but for preserving or maintaining an already existing asset " Explain it with example.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
09 September 2010 If your repair charges increase the current capacity or production capacity is not a current repair expenses - it will be added to the fixed asset and claim depreciation othewise you can debit the P&L and claim expenses
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