Tribunal Approves Depreciation on Revalued Assets, Ensures Compliance with Statutory Accounting; No Legal Errors Found in MAT Cases.

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....Depreciation on the revalued assets - Tribunal did not commit any error in law in allowing the depreciation on the revaluation reserve, which is a prescribed and statutory method of accounting, and by which the book profits do not get reduced, giving any added benefit to the companies including Minimum Alternate Tax (MAT) companies - HC....