Treatment of car less than a year

CA Ashik Ali (Chartered Accountant) (97 Points)

13 June 2013  

A car is purchased for a X amount for a staff which is used for a period of 6 months and sold after six months for the same price as the resale value is good. Could anyone provide me with the solution to how to account it without treating it as a capital expenditure as it is used for only six months.