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        F. Acts / Amendment Acts

        Section 24 - Amendment of section 50B

        Finance Act, 2000
        Chapter III
        DIRECT TAXES
        INCOME-TAX

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        Net worth definition under section 50B clarified: revaluation ignored; depreciable assets use written down value, others use book value. Amendment defines net worth as total assets less liabilities per books, ignoring asset revaluation; depreciable assets are valued at written down value of the block and other assets at book value.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Net worth definition under section 50B clarified: revaluation ignored; depreciable assets use written down value, others use book value.

                                Amendment defines net worth as total assets less liabilities per books, ignoring asset revaluation; depreciable assets are valued at written down value of the block and other assets at book value.


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