regarding Dep.
This query is : Open
28 May 2010
Dear Friends
I am working with a Manufacturing unit,
and we purchase Frok Lifts for handing the material one place to another within the factory hance we treat it as Plant & machinery.
But as per our Auditors is concerned they advice it is covered under Vehicle and dep charged of Vehicle rate not plant & Machinery.
Fork lift having 4 weels hence it is Vehicle.
But on practical ground it is not a vehicle.
Please advice what is the proper head,
and what is the proper reply for auditors.
I am working with a Manufacturing unit,
and we purchase Frok Lifts for handing the material one place to another within the factory hance we treat it as Plant & machinery.
But as per our Auditors is concerned they advice it is covered under Vehicle and dep charged of Vehicle rate not plant & Machinery.
Fork lift having 4 weels hence it is Vehicle.
But on practical ground it is not a vehicle.
Please advice what is the proper head,
and what is the proper reply for auditors.
28 May 2010
It will be treated as Plant & Machinery or Tool & Equipment.
It is not vehcile.
It is not vehcile.
28 May 2010
You can take example of trollies having 4 wheel, it is also tool & equipment not vechicle.
28 May 2010
AGREE WITH MR. BANSAL
31 May 2010
but how can i convence the auditors , because they were stick on it they need reference agaisnt it
31 May 2010
ASK THEM TO SHOW REFERENCE OR CASE LAW IN FAVOR OF THEIR DECISION.
31 May 2010
As per auditors opinion it was a vehicle and should be charged in vehicle head, if we need to convance them then we need case law refferance. As per practical paraliance it is a P & M . Please give me the case reff so that i would convance tham.
Thanks
Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- TDR receipts for agreement holder
- Inventory of finished goods
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- GST APPLICABILITY ON POLLUTION CHECK SERVICE
- Refund AY 2012-13 and 2013-14
- DIRECT TAX CODE 2025
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
