HP Agarwal AIR1CA: CA Inter Advanced Accounting

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Case Study 27 [AS 19] Loktantra Limited leased a machine to Janadesh Limited on the following terms: Particulars Details Lease term 4 years Lease rental per annum ₹10.00 lakhs Guaranteed residual value ₹2.00 lakhs Expected residual value ₹3.50 lakhs Internal Rate of Return 12% Discount factors for 1st to 4th year at 12% are 0.8929, 0.7972, 0.7118 and 0.6355, respectively.

Case Study 26 [AS 19] Bablu Machines Ltd. purchased a machine for ₹2,40,000 and gave it on a 4-year operating lease to Golu Industries Ltd. The machine has an economic life of 6 years. The lessor expects a profit of 30% on cost from the lease. The estimated output of the machine over its economic life is: Year Output (Units) 1 30,000 2 45,000 3 55,000 4 70,000 5 80,000 6 60,000 The lease rentals are payable in 4 equal annual instalments. It is considered appropriate to recognise lease income and depreciation in proportion to output.

Case Study 25 [AS 20] Mauj-Masti Limited issued 1,50,000, 12% Convertible Debentures of ₹100 each on 1st July, 2025. Each debenture is convertible into 8 equity shares. The following information is available for the financial year ended 31st March, 2026: Net Profit for the year ₹1,44,00,000 Equity Shares outstanding throughout the year 60,00,000 Number of 12% Convertible Debentures issued on 1st July, 2025 1,50,000 Face value per debenture ₹100 Conversion ratio 8 equity shares per debenture Tax rate 30%

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Case Study 24 [AS 22] Y Ltd. is eligible for a 100% tax holiday for the first 10 years of its operations under the Income-tax Act. The company is currently in the second year of its tax holiday period. During the first two years, the following taxable timing differences arise solely due to the difference between depreciation under the Companies Act and the Income-tax Act: Particulars Taxable Timing Difference (₹ in lakhs) Year 1 300 Year 2 250 It is estimated that from Year 3 onwards, these timing differences will reverse at the rate of ₹20 lakhs per year. Assume that: Applicable tax rate = 40% The enterprise is expected to continue earning sufficient taxable income after the tax holiday period.

Case Study 23 The following information relates to Aarav Limited for the year ended 31st March, 2026: Profit before depreciation and tax is ₹ 18,50,000. Depreciation as per accounting records (excluding new machinery) is ₹ 2,40,000. Depreciation as per Income-tax records (excluding new machinery) is ₹ 1,80,000. On 1st April, 2025, the company purchased a new machine for ₹ 4,00,000. For accounting purposes, depreciation is charged using the Straight Line Method over 5 years. For income-tax purposes, 100% depreciation is allowable in the first year. During the year, the company donated ₹ 1,20,000 to a private charitable trust. The donation is not deductible under the Income-tax Act. The applicable corporate tax rate is 30%. Answer the following questions

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🚨 CA Inter: Advanced Accounting | ABC Analysis (Sept 2026) 📊