Rosy Ltd. engaged in manufacture of bio-medicines in August, 2019 converted equipment, which was used for scientific research purposes previously, for regular business use. The original cost of the plant is ₹ 15 lakhs which was acquired in April, 2017. The company had claimed deduction at 200% under section 35(2AB) in the assessment year 2018-19. The plant used for scientific research would be included in the block assets now at a value of:
A. Nil
B. ₹ 15,00,000
C. ₹ 30,00,000
D. ₹ 12,75,000
Answer:A
Rosy Ltd. engaged in manufacture of bio-medicines in August, 2019 converted equipment, which was used for scientific research purposes previously, for regular business use. The original cost of the plant is ₹ 15 lakhs which was acquired in April, 2017. The company had claimed deduction at 200% under section 35(2AB) in the assessment year 2018-19. The plant used for scientific research would be included in the block assets now at a value of:
A. Nil B. ₹ 15,00,000 C. ₹ 30,00,000 D. ₹ 12,75,000