Introduction:
When an investment is given at a certain value in the old balance sheet and its value has changed, it is necessary to make appropriate adjustments in the financial statements. In this case, where the investment was given at a value of ₹60,000 and its current value is ₹36,000, we need to determine how to treat this investment in the books.

Treating the Investment:
There are two possible ways to treat the investment in this scenario - either through the revaluation account or by adjusting the partner's capital account. Let's explore both options:

Option 1: Revaluation Account:
1. Create a revaluation account: Start by creating a revaluation account to record the change in the value of the investment.
2. Debit the revaluation account: Debit the revaluation account with the decrease in the value of the investment, in this case, ₹24,000 (₹60,000 - ₹36,000).
3. Credit the investment account: Credit the investment account with the same amount, ₹24,000, to reflect the decrease in its value.
4. Adjust the partner's capital account: Finally, transfer the balance of the revaluation account to the partner's capital account in the profit and loss sharing ratio.

Option 2: Partner's Capital Account:
1. Adjust the partner's capital account: Start by adjusting the partner's capital account directly to reflect the change in the value of the investment.
2. Debit the partner's capital account: Debit the partner's capital account with the decrease in the value of the investment, ₹24,000.
3. Credit the investment account: Credit the investment account with the same amount, ₹24,000, to reduce its value.
4. No need for a revaluation account: Since the adjustment is made directly in the partner's capital account, there is no need to create a separate revaluation account.

Conclusion:
In this scenario, you have the option to either treat the investment through a revaluation account or by adjusting the partner's capital account directly. Both methods will result in the same outcome. However, it is important to consult with a professional accountant or refer to the partnership agreement to determine the most appropriate method to use.