TMI BlogMeaning of written down value, adjusted value of assets, etc.X X X X Extracts X X X X X X X X Extracts X X X X ..... s at the close of the immediately preceding financial year. (2) The written down value of the block of assets at the close of the immediately preceding financial year shall be the adjusted value of the block of assets in the immediately preceding financial year as reduced by,- (a) the amount of capital allowance, if any, allowed under section 35 during that year; and (b) any expend ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he aggregate of the deemed written down value of the assets transferred by any of the modes referred to in sub-section (3) of section 42. (4) The adjusted value of any block of asset under sub-section (3) shall be 'nil' if the amount (C+D+E) exceeds the amount (A+B); or (5) The adjusted value of the block of assets acquired by a successor in a business reorganisation for the financial ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -section (4) of section 41 in respect of the asset. (7) The written down value of a block of asset comprising of any asset acquired in any financial year from a country outside India for the purposes of business shall be computed in accordance with the formula - (A+B) - (C+D+E) Where A = the written down value of the block of asset comprising of any a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of liability of the assessee, expressed in Indian rupees at the time of making payment, shall, in a case where the assessee has entered into a forward contract, be computed with reference to the rate of exchange specified in such forward contract. (9) The Board may prescribe- (a) the method of determining the written down value or the adjusted written down value of the block of assets as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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