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Income tax an d accounting tretment

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(Querist)
13 August 2011 i have 5 units of plant.i m considering another unit under the same company and same business.the unit is under progress as on 31.03.what will be the tax and accounting treatment for revenue and capital expenditure.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
14 August 2011 Fixed assets under processing will be treated as Capital work in progress under both companies act & Income tax act. depreciation can be claimed only after asset put in to use
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
14 August 2011 I agree with the expert
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CA. Krishna K Neeraj

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CA. Krishna K Neeraj (Expert)
15 August 2011 agreed with Ramesh
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