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Depreciation

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(Querist)
17 September 2018 Can depreciation be claim on revaluation of asset under companies act and income tax act ?
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CA Ankit R Momaya

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CA Ankit R Momaya (Expert)
18 September 2018 Depreciation on Revaluation of Assets can be claimed under Companies Act read with AS-10. However depreciation on revaluation cannot be claimed under Income Tax Act.

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