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Fixed Assets

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(Querist)
05 April 2009 In case due to defects, fixed assets already capitalised are returned to the supplier can it be shown as a deletion in the block?
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
06 April 2009
Yes. You can show it as deletion to the block. And if you have taken cenvat credit or vat credit or depreciation it should be appropriately reversed.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
06 April 2009 answered
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Mini

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Mini (Querist)
06 April 2009 Thanks,
But there has been no reversal of depreciation. Depreciation is still being charged in the books.
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Mini

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Mini (Querist)
06 April 2009 Thanks,
But there has been no reversal of depreciation. Depreciation is still being charged in the books.

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