Mr Rahul Purchase 1000 Square Yards Land To Build Factory And Paid Rs 15 Lakhs Towards Its Costing Including Registeration Charges. At The End Of The Year The Value Of The Land Came Down To Rs 13 Lakhs Nr Rahul Recorded The Land At Rs 13 Laks And Booked A Loss If Rs 2 Laks Is He Correct In Treating The Fall In Value Of Land As Loss? Explain
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Because depreciation applyed on the land
On other words land should be second hand so,itvalue automatically redacted
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