ABC Ltd. has an item of plant whose current carrying amount is €400 000 (accumulated depreciation being €40 000). The asset had cost €600 000. It was revalued downwards from a carrying amount of €540 000 to €440 000, with the following accounting entry being passed:

Dr Accumulated Depreciation 60 000

Dr Loss – Downward Revaluation of Plant (P&L) 100 000

Cr Plant 160 000

Show the appropriate accounting entries, if the plant is now assessed as having a fair value of €460 000. The tax rate is 30%.