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Querist : Anonymous (Querist)
04 August 2011 What do we mean by upward revaluation of an asset?
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
04 August 2011 As per AS 10, when we increase the value of an asset during revaluation, the same is known as upward revaluation.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
04 August 2011 upward revaluation of an asset means increase in value of assets.
Exmp -
cost of assets = Rs. 100/-
Revaluation of assets = Rs. 150/-
this is the case of upward revaluation.
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