Value considered in books of old plant & machinery

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(Querist)
21 September 2011 Hello friends,

My company is a newly one and is going to purchase 5 year old plant & machinery. Can somebody tell me whether i have to consider w.d.v. of P & M or i have to consider purchase value of the old plant.
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nupur

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nupur (Expert)
21 September 2011 WDV of plant & Machinery is to be taken .
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
21 September 2011 current market value/fair value(e.i. purchase value of the old plant) shell be taken.
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
29 September 2011 The expert is absolutly right in the given case
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