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Sec 31

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Rahul (Querist)
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28 December 2009 But sir doesnt specific provision prevail over a general one? Sec 31 is a specific provision for ANY Insurance Premium paid to mitigate the risk or damage to Plant & Machinery??

CA Mani (Expert)
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28 December 2009 First premium will be capitalised because it is incurred before putting into use and any other subsequent premium will be expensed as per sec 31

Rahul (Querist)
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28 December 2009 Thank you Maninder Ji.

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