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Revaluation of fixed assets

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(Querist)
28 September 2011 Can Fixed Assets Revaluation Reserve be used for setting off devaluation of Investments (Shareholding in Subsidiary Co.)?
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
28 September 2011 No not at all, the Fixed asset revaluation resperve cannot be utilsed to set off the devalucation of investment, it is against the true and fair presentation of accounts.

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