Prelimnary expenses written off as per companies act..urgent

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Rajesh (Querist)
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02 October 2012 Dear Experts,
Prelimnary Expenses written off as per companies Act is 1/5th am i right?

Suppose if there is justification for writing off the prelimnary expenses more than 1/5th (say 100%) can we do it if we are able to properly justify it. Please give me the answer with case laws if available.
Thanks & regards,
Rajesh.

Amol S Joglekar

Amol S Joglekar (Expert)
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02 October 2012 No, that is not possible. 5 years or 10 years as per the given scenario. 1/5th is always justified. Please enumerate the "properly justify" kind of reasons. Let me understand the same.

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