https://www.taxtmi.com/article/detailed?id=204 When a sale agreement itemises consideration for specified tangible assets but separately obliges the purchaser to meet accrued or future liabilities, those assumed liabilities are not part of the actual cost of depreciable assets and cannot be apportioned to increase asset cost for depreciation; by contrast, where the consideration is a consolidated slump sum without itemisation, assumed liabilities may be treated as part of the overall cost and apportioned among assets for depreciation purposes. en-us Fri, 17 Oct 2008 00:00:00 +0530 Fri, 17 Oct 2008 14:10:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=204 When a sale agreement itemises consideration for specified tangible assets but separately obliges the purchaser to meet accrued or future liabilities, those assumed liabilities are not part of the actual cost of depreciable assets and cannot be apportioned to increase asset cost for depreciation; by contrast, where the consideration is a consolidated slump sum without itemisation, assumed liabilities may be treated as part of the overall cost and apportioned among assets for depreciation purposes. Articles Income Tax Fri, 17 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=204