Life Education Ltd. is carrying the same asset "Wing W" at 1,200 Lakhs in its books of accounts as on 31.03.2025. Do you agree with the same?

Particulars Goodwill (in lakhs) Identifiable assets (in lakhs) Total (in lakhs) Cost at the time of acquisition 400 2,000 2,400 Less: Depreciation for 8 years (from 2017-2018 to 2024-2025) - (800) (800) Carrying amount 400 1,200 1,600 Less: Impairment loss (400) (100) (500) Carrying amount after impairment loss - 1,100 1,100 Since, the recoverable amount is 1,100 lakhs, there is an impairment loss of 500lakhs. The impairment loss of 500lakhs should be allocated to goodwill first, and then to the other identifiable assets, i.e.,400 lakhs to goodwill and 100lakhs to identifiable assets of “Wing W”. Hence, the presentation of “Wing W” by Life Education Ltd. in its books at 1,200 lakhs as on 31.3.02025 is incorrect.