19 July 2016
SIR, A LIMITED COMPANY HAD REVALUED ITS VARIOUS FIXED ASSET LONG BACK IN THE YEAR 2003-04 AND PASSED THE ACCOUNTING ACCORDINGLY. SIR, NOW THE COMPANY DO NOT WANT TO CARRY OVER THE REVALUATION AMOUNT AND WANTS TO SHOW ITS FIXED ASSET AT HISTORICAL COST. SIR, IS IT POSSIBLE TO REVERSE THE REVALUATION AMOUNT ? IS THERE ANY LEGAL COMPLICATION ? PLEASE GUIDE ME. WITH REGARDS
CAclubindia
