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30. An electricity company charging depreciation on straight line method on each asset separately, sells one of its machinery in April, 2020 at * 1,20,000.
30. An electricity company charging depreciation on straight line method on each asset separately, sells one of its machinery in April, 2020 at * 1,20,000. The WDV of the machinery at the beginning of the year i.e., on 1st April, 2020 is * 1,35,000. No new machinery was purchased during the year. The shortfall of 15,000 is treated as - (a) Terminal depreciation (b) Short-term capital loss (c) Normal depreciation. (d) Any of the above, at the option of the assessee 30. An electricity company charging depreciation on straight line method on each asset separately, sells one of its machinery in April, 2020 at * 1,20,000. The WDV of the machinery at the beginning of the year i.e., on 1st April, 2020 is * 1,35,000. No new machinery was purchased during the year. The shortfall of 15,000 is treated as - (a) Terminal depreciation (b) Short-term capital loss (c) Normal depreciation. (d) Any of the above, at the option of the assessee
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