Hi Hardav,
In AO90 please go into the Account Determination > Depreciation.
Please plug in "Depreciation Revaluation P&M A/c" as you mentioned in your post in "Offsetting accnt. Reval. Ordinary Deprc" field.
It seems you are defining P/L account in "Reval. accounlated ord. depreciation" field which is for balance sheet. These both fields are under Account assignment for revaluation on deprecation frame.
Let me know if this fixes the issue. I would appreciate if you can provide the screen shot so the picture would be clear with to configuration.
Thanks
Naseem