Revaluation of current assets

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sree vamshi devi (Querist)
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23 April 2013 Can revaluation of current asset i.e,(land) can be done?? (or)

Can revaluation of stock in trade of land be done?

CMA Ramesh Krishnan (Expert)
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06 August 2013 Current asset cannot be revalued. land is normally fixed asset, in case you having in stock. valuation can be down on cost basis

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