Treatment of assets writtenoff as per income tax act

Chinnam Madhav (Article assistant) (51 Points)

29 June 2016  

In one of the company, an asset is written of from books. However as per Income tax, the block still exists.

Now shall i reduce the book value of such asset, which is written of from the block while computing profits as per income tax?

(I did not receive any monies towards the discarded asset)