Dear punnam,
Investment property is in AS13
It is an investment in land or building that is not intended to be occupied substantially for use by or in their operation of the investing enterprise.
For e.g. if a company purchases land or building not for its business use but for earning the rent by letting the land or building; the land or building is not fixed asset but it is an investment or even if building is not let out but is held with the intention to earn capital appreciation, then it is an investment