Revaluation Reserve Affects Balance Sheet, Not Profit and Loss; No Book Profit Reduction for Assessee.

Revaluation Reserve Affects Balance Sheet, Not Profit and Loss; No Book Profit Reduction for Assessee. https://www.taxtmi.com/highlights?id=4130 MAT - creation of the revaluation reserve account being referable to the balance-sheet assets portion and not by way of appropriation to the profit and loss account, the question of the assessee claiming reduction to the book profit did not arise. - HC en-us Mon, 25 Jun 2012 09:16:11 +0530 Mon, 25 Jun 2012 09:16:11 +0530 TaxTMI RSS Generator Revaluation Reserve Affects Balance Sheet, Not Profit and Loss; No Book Profit Reduction for Assessee. https://www.taxtmi.com/highlights?id=4130 MAT - creation of the revaluation reserve account being referable to the balance-sheet assets portion and not by way of appropriation to the profit and loss account, the question of the assessee claiming reduction to the book profit did not arise. - HC Highlights Income Tax Mon, 25 Jun 2012 09:16:11 +0530 https://www.taxtmi.com/highlights?id=4130