https://www.taxtmi.com/acts?id=8447 The amendment provides that where an assessee was not required to compute total income for prior years, the asset's actual cost shall be adjusted by amounts due to book revaluation; depreciation recorded in the books for such prior years shall be deemed to be the depreciation actually allowed under the Act; and the depreciation actually allowed shall be adjusted to exclude the portion attributable to the revaluation. en-us Fri, 29 Feb 2008 20:01:20 +0530 Sat, 01 Mar 2008 01:03:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=8447 The amendment provides that where an assessee was not required to compute total income for prior years, the asset's actual cost shall be adjusted by amounts due to book revaluation; depreciation recorded in the books for such prior years shall be deemed to be the depreciation actually allowed under the Act; and the depreciation actually allowed shall be adjusted to exclude the portion attributable to the revaluation. Act-Rules Bills Fri, 29 Feb 2008 20:01:20 +0530 https://www.taxtmi.com/acts?id=8447