Priyanka Kesharani (Final Student) (30 Points)
16 February 2012
Sonam Bidasaria
(CA)
(770 Points)
Replied 15 March 2012
As the past years balance sheets have already been audit and submitted to various statutory authorities, depreciation under Companies Act was not taken by the Company and hence depreciation being "0", now Company cannot take the benefit of lower of Book Loss or Depreciation.
CAclubindia
