Depreciation Allowed on Revalued Assets as AO Doesn't Dispute Valuation; Explanation-3, Section 43 Not Applicable. https://www.taxtmi.com/highlights?id=27102 Succession of the firm - revaluation of assets - claim of depreciation - AO has not disputed the valuation adopted by the assessee, this rules out the applicability of Explanation-3 to Sec. 43 - depreciation on revalued assets allowed - AT en-us Fri, 29 Jan 2016 09:50:11 +0530 Fri, 29 Jan 2016 09:50:11 +0530 TaxTMI RSS Generator Depreciation Allowed on Revalued Assets as AO Doesn't Dispute Valuation; Explanation-3, Section 43 Not Applicable. https://www.taxtmi.com/highlights?id=27102 Succession of the firm - revaluation of assets - claim of depreciation - AO has not disputed the valuation adopted by the assessee, this rules out the applicability of Explanation-3 to Sec. 43 - depreciation on revalued assets allowed - AT Highlights Income Tax Fri, 29 Jan 2016 09:50:11 +0530 https://www.taxtmi.com/highlights?id=27102