Trial run failed - depreciation not claimed - machine put t


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
03 January 2016 A MACHINE PURCHASED IN 2009 FOR 20 LAC,, RS 12 LAC PAID --- TRIAL RUN IN 2011 OF ONE BATCH , (SALES RS 50000/-) ANOTHER TRIAL RUN, 2 BATCHES ( SALES RS 3.50 LAC) -- TRIAL RUNS FAILED -- NO SUFFICIENT VALUE ADDITION TO INPUT --, LOSS -- MACHINE DEFECTIVE -- BALANCE RS 8 LAC NOT PAID AND REVERSED TO COST OF MACHINE IN 2012 --- DEPRECIATION NOT CLAIMED IN 2011 AND 2012 AS MACHINE NOT CONSIDERED AS " PUT TO USE ".-- IN 2014 MACHINE SOLD FOR 9 LAC - FIRM HAS NO OTHER TURN OVER, BUSINESS OR RECEIPT IN 2011-2012-2013-2014 --- RE: TAXABILITY IN 2014 - LOSS ON SALE OF MACHINE --- HOW TO PRESENT ? THANKS

03 January 2016 Claim loss on sale as business loss.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
03 January 2016 THANKS SIR.
PLEASE ADVISE : SHALL SALE RS. 900 BE SHOWN U/S 44 AD ? MACHINE WAS SHOWN AS FIXED ASSET. IN CASE U/S. 44AD, NEED GIVE 4 DETAILS : TURN OVER : 9.00 LAC, GROSS LOSS 3.00, EXP. 0, NET LOSS 3.00 IS CORRECT ? OR IN ANYOTHER WAY ? THANKS

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
03 January 2016 THANKS SIR.
PLEASE ADVISE : SHALL SALE RS. 900 BE SHOWN U/S 44 AD ? MACHINE WAS SHOWN AS FIXED ASSET. IN CASE U/S. 44AD, NEED GIVE 4 DETAILS : TURN OVER : 9.00 LAC, GROSS LOSS 3.00, EXP. 0, NET LOSS 3.00 IS CORRECT ? OR IN ANYOTHER WAY ? THANKS

04 January 2016 This sale can't be shown under 44AD, Show it as loss on sale of asset.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
14 August 2026
Article Assistant CA Articleship

Eshwar & Co Chartered Accountants - Nungambakkam

Chennai

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details