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The Depreciation Rate for Heavy Equipments like cranes
(used in the construction of bridges, flyovers etc ... ) is
30% as per the companies act. If i buy a crane for Rs. 10
Lakh and claim depreciation the cost of the crane in the
2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and
in the 4th year it is 3.4 Lakh ...... Can i re-value the
crane in the 5th year to the 2nd hand market price of Rs.
20 Lakh and claim depreciation on it @ 30% ? (Cost of crane
in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )
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