General question
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 September 2011
Depreciations is applicable to all fixed assets except the following:
a) Goodwill
b) Land
c) Machinery
d) Inventory
a) Goodwill
b) Land
c) Machinery
d) Inventory
30 September 2011
Good will & land & Inventory - Dep is not calculated
only on machinery dep is calculated
since land is a appreciable asset
only on machinery dep is calculated
since land is a appreciable asset
30 September 2011
Goodwill also can be depreciated in certain situations. Pl refer Delhi High Court' s decision in the case of CIT v. Hindustan Coca Cola Beverages Pvt. Ltd., Income Tax Appeal No.1391/2010,Order dated 14 January 2011.
ACMA Obulirajan R
(Expert)
01 October 2011
Agreed with Experts
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