CA Day celebration 2024 Easy Office
LCI Learning

Treatment of vehicle lost by theft

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 April 2015 A vehicle in which no insurance claim is admissible was lost by theft whether any depreciation will be admissible for the said vehicle during the and whether the loss will be allowed as deduction from business profit.
Profile Image

CA. SHIVA SHANKARA R. SHETTY

Profile Image

CA. SHIVA SHANKARA R. SHETTY (Expert)
03 April 2015 No depreciation is allowed, because the asset is not exist as on the date.

However, you can book the loss against business profit.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links