One of the machines that were in use in operations was damaged irreparably in an accident and we propose to write off this asset in our books of accounts. Can you tell us the tax implications of this move?
One of the machines that were in use in operations was damaged irreparably in an accident and we propose to write off this asset in our books of accounts. Can you tell us the tax implications of this move?
We did not receive any insurance compensation. Claim was turned down on technical grounds
R P S K & Associates
Nashik
CA Inter
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T R SOOD & CO
New Delhi
CA Inter
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Karia Overseas
Ahmedabad
CA
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CAclubindia
