9911796707
TMI BlogMeaning of written down value, adjusted value of assets, etc.X X X X Extracts X X X X X X X X Extracts X X X X ..... e close of the immediately preceding financial year. (2) The written down value of the block of assets at the close of the immediately preceding financial year shall be the adjusted value of the block of assets in the immediately preceding financial year as reduced by,- (a) the amount of capital allowance, if any, allowed under section 35 during that year; and (b) any expenditure incurred for acqu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k of asset under sub-section (3) shall be 'nil' if the amount (C+D+E) exceeds the amount (A+B); or (5) The adjusted value of the block of assets acquired by a successor in a business reorganisation for the financial year in which the business reorganisation has taken place shall be the amount which would have been taken as the adjusted value of the block of assets as if the business reorganisation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Where A = the written down value of the block of asset comprising of any asset acquired in any financial year from a country outside India as determined in accordance with sub-section (6) of section 42; B = the amount of liability of the assessee, expressed in Indian rupees at the time of making payment towards - (a) the whole or a part of the cost of the asset; or (b) repayment of the whole or a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... financial year; (b) the method of determining the allocation of the written down value or the adjusted written down value of the assets between the different businesses carried on by the assessee; and (c) the method of determining the written down value or the adjusted written down value of the block of assets in the circumstances which are not provided for under this section. (10) For the purpos ..... X X X X Extracts X X X X X X X X Extracts X X X X
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