18 September 2009
I have added one part to my existing old asset and the part is not increased the productivity a or life of the same old asset.Whether i will capitalise the part under the old asset or not.If yes what is the reason plz suggest.
18 September 2009
It is revenue in nature which may be booked under the head of 'REPAIRS'. The same is to be treated as revenue in view of the fact that life of the machine remains the same without any change in its capacity of output.
CAclubindia
