26 August 2008
Suppose A Co. Has Shut Down Its Activity In a Particular Financial Year Because Of Order of Supreme Court And That Year Co. Does Not Have any commercial activity
Whether it is compulsory to charge depreciation
if yes plz provide "relevant areas of co.act" to support the same?
03 October 2008
Even in the case of a total shut down, the assets already in use but suspended now may deteriorate due to efflux of time. Therefore, provision of depreciation is necessary in my opinion.
CAclubindia
