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Querist : Anonymous

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Querist : Anonymous (Querist)
30 September 2011 Depreciations is applicable to all fixed assets except the following:
a) Goodwill
b) Land
c) Machinery
d) Inventory
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
30 September 2011 Good will & land & Inventory - Dep is not calculated
only on machinery dep is calculated

since land is a appreciable asset
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 September 2011 Goodwill also can be depreciated in certain situations. Pl refer Delhi High Court' s decision in the case of CIT v. Hindustan Coca Cola Beverages Pvt. Ltd., Income Tax Appeal No.1391/2010,Order dated 14 January 2011.

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ACMA Obulirajan R

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ACMA Obulirajan R (Expert)
01 October 2011 Agreed with Experts

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