Accounting for petrol pump
Atharv Sankliya (1356 Points)
04 October 2022
in petrol pump warning, hazards sign board are recorded as ?
2 Replies
Kev Men
(788 Points)
Replied 07 October 2022
It will be expensed. It will not be considered as fixed assets because it does not bring any benefit to the assessee. You can read the case of CIT vs. Orient Ceramics and Industries Ltd (2013).
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