Written down value replaces book value for asset valuation, altering depreciation and transfer accounting in income-tax law. Amendment replaces book value with written down value for asset valuation under clause (6) of section 43: Explanation 2A now specifies written down value ... Summary
Written down value replaces book value for asset valuation, altering depreciation and transfer accounting in income-tax law.
Amendment replaces book value with written down value for asset valuation under clause (6) of section 43: Explanation 2A now specifies written down value of the assets; Explanation 2B now specifies written down value of the transferred assets as appearing in the books of account; and the proviso to Explanation 2B is omitted.
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