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TMI BlogMeaning of written down value and adjusted value of assets.X X X X Extracts X X X X X X X X Extracts X X X X ..... al 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 37 during that year; and (b) any expenditure incurred for acquiring the asset to the extent allowed as a d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nil" if the amount (C+D+E) exceeds the amount (A+B). (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 had not taken place. (6) The written down v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the adjusted value of the block of assets shall be computed in accordance with the formula— A + (B-C) - D Where A = the adjusted value of such block of assets determined in accordance with sub-section (3); B = the amount of liability of the person, expressed in Indian rupees at the time of making actual payment towards— (a) the whole or a part of the cost of the asset; or (b) repayment of the wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... carried on by the person; and (b) 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 in this section. (10) In this section, the deemed written down value shall have the meaning assigned to it in sub-section (10) of section 44. - - statute, statutory provisions legislation, law, enactment, Acts ..... X X X X Extracts X X X X X X X X Extracts X X X X
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