https://www.taxtmi.com/notifications?id=117032 Amendments substitute Schedule II provisions so useful life ordinarily follows Part C and residual value is subject to a prescribed low limit; departures require disclosure and technical justification. Component accounting is required where parts are significant and have different useful lives, with a transitional voluntary period followed by mandatory application. Paragraph 7(b) is amended to change an obligation to permissive recognition. en-us Fri, 29 Aug 2014 00:00:00 +0530 Wed, 10 Sep 2014 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=117032 Amendments substitute Schedule II provisions so useful life ordinarily follows Part C and residual value is subject to a prescribed low limit; departures require disclosure and technical justification. Component accounting is required where parts are significant and have different useful lives, with a transitional voluntary period followed by mandatory application. Paragraph 7(b) is amended to change an obligation to permissive recognition. Notifications Companies Law Fri, 29 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/notifications?id=117032