banner_ad

How to classify

This query is : Resolved 
Profile Image

Profile Image

(Querist)
17 June 2016 My Client has imported a machinery and held it for demonstration purpose. he is not intended to sale it in future. he is also trader of such types of Machinery. plz suggest appropriate accounting treatment.
Profile Image

CA Amrita Chattopadhyay

Profile Image

CA Amrita Chattopadhyay (Expert)
18 June 2016 The machinery as per AS 10 has to be capitalized if it is held with the intention of being used for the purpose of producing or providing goods or services and not held for sale in the normal course. In the above case, if the demonstration is done for the purpose of providing the machinery or rendering service, it is has to be capitalized. Else considered as revenue in nature.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details