Sec 31
This query is : Resolved
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??
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
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