As 26

Dear sir, Please answer - A company has developed a seed of potato spending Rs 1 crore on it...now this seed is not intended to be sale and will be used to develop other more seed Now company is recording it as fixed asset stating that it is in physical form, not intended to be sale and used to develop other seeds. I think it should be recorded as intangible assets because it is seeds scientific composition which is being developed. And also will be the case for developing some medicine...it will be also in physical form but should be recorded as intangible. Please suggest plz prove with reference to A S that why it is recognised as intangible asset not with example.