Dear All,
We have replaced a major part of machinery in a manufactruing company, the cost of which is almost 75% of the current WDV of the Machinery.
My question is:
1. Can we capitalise the same by treating the same as partial replacement of asset or addition to the asset ?
2. Which is advantageous is capatalising it or deducting as deffered revenue expenses?
Thanks in Advance.
Mamatha H M