Determine the value of the intangible asset i.e. patent right, as of the financial year ending 31st March, 2025. Consider factors such as…

Value as on 31st March, 2023 Original cost - 3,00,000 Less: Amortisation (3,00,000 x 1/5) (60, 000) Net Value - 2,40,000 Value as on 31st March, 2024 On 1st April, 2023, the downward revaluation is recorded by writing down the asset to the estimated value of 1,50,000, which necessitates a - 90,000 charge to profit & loss (carrying value,2,40,000 less fair value - 1,50,000). Amortisation provided for the financial year 2023-2024 is 75,000 (₹ 1,50,000 / 2) Net value is = 1,50,000 - 75,000 = 75,000. Value as on 31st March, 2025 As of 1st April, 2024, the carrying value of the patent is 75,000. Revalued amount of patent is 3,00,000. Out of total revaluation gain of 2,25,000,90,000 will be charged to profit & loss and balance amount of 1,35,000 (₹ 2,25,000 - 90,000) will be credited to revaluation reserve in OCI. Amortisation provided for the financial year 2024-2025 is 75,000 (₹ 3,00,000 / 4) Net value as on 31st March, 2025 = 3,00,000 - 75,000 = 2,25,000.