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February 2012

Indian Oil Corporation Ltd. (31-3-2011)

By Himanshu Kishnadwala
Chartered Accountant
Reading Time 1 mins
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From Significant Accounting Policies

Depreciation
Expenditure on items like electricity transmission lines, railway sidings, roads, culverts, etc. the ownership of which is not with the company are charged off to revenue in the year of incurrence of such expenditure.

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