Revalued value in books

As such their is not such time limit but, the revalued figures are to be disclosed in the financial year in which such revaluation has been made. Reasons for such revalution, impact of such revaluation has to be disclosed.

in case of revaluation of stocks, such revalution whether it increase or decrease the profits has to be disclosed in the income tax return of the financial year in which such revalution is made.  so amouint have to be changed in the year of revaluation only.

Agreed with Satish kumar ji,

Revaluation is to be disclosed in the financial statement in the same year in which revaluation is done, and the asset should be shown at revalued figure realising in revaluation reserve (if value of asset is increased) or P/L account (if value of asset is decreased) as the case may be provided revaluation is made for the 1st time.

This is not a proper practise where asset is revalued after 2 years of revaluation. It might be possible that asset is not that worthy after 2 years.

Therefore revaluation should be realised in the same year of revaluation.