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Fire loss on fixed assets

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(Querist)
29 August 2011 IT IS POSSOIBLE FOR FIRE LOSS ON FIXED ASSETS SET OFF/ADJUSTED AGAINST PROFIT
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
29 August 2011 loss by fire of fixed assets is also charged to P&L a/c.
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ASHOK

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ASHOK (Querist)
30 August 2011 SIR,
PLS CLARIFY IN THIS MATTER.,
MY CA ARE ADDED FOR FIRE LOSS IN PROFIT IT IS OK......FIRE LOSS IS ACTUAL LOSS IT IS ADDED IN LOSS. IT NOT POSSIBLE YA INCOME TAX JUDEMENT ANY., WE CLAIM FIRE LOSS IN ACTUEL LOSS.,
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