Q703
If the product, either manufactured or purchased, is a capital asset, its cost will not be allowed as a deduction in computing the income. However, if the asset is such, on which depreciation is allowed, it will be allowed in case(s) of
A.
manufactured
B.
purchased
C.
hire-purchased
D.
Both A and B
AnswerAnswer: Option D
Solution
Answer: Option D
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