Section 14(2) in Hyderabad Metropolitan Water Supply and Sewerage Act, 1989
(2)If any asset is sold, discarded, demolished or destroyed during the year,-(a)the excess, if any, of the written down value of such asset over its sale proceeds or as the case may be its scrap value shall be written off;(b)the excess, if any, of the lower of the sale proceeds and the cost of acquisition over the written down value of the asset shall be accounted for as income during such financial year; and(c)the excess, if any, of the sale proceeds over the cost of acquisition of the asset shall be credited to the capital reserve of the Board;in the financial year in which the asset is sold, discarded, demolished or destroyed.]
