Prelimnary expenses written off as per companies act..urgent
This query is : Resolved
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.
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
(Expert)
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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