diff --git a/erpnext/assets/doctype/asset/asset.py b/erpnext/assets/doctype/asset/asset.py
index 7357249..6701810 100644
--- a/erpnext/assets/doctype/asset/asset.py
+++ b/erpnext/assets/doctype/asset/asset.py
@@ -519,14 +519,11 @@
 			movement.cancel()
 
 	def cancel_capitalization(self):
-		asset_capitalization = frappe.db.get_value(
-			"Asset Capitalization",
-			{"target_asset": self.name, "docstatus": 1, "entry_type": "Capitalization"},
-		)
-
-		if asset_capitalization:
-			asset_capitalization = frappe.get_doc("Asset Capitalization", asset_capitalization)
-			asset_capitalization.cancel()
+		if self.capitalized_in:
+			self.capitalized_in = None
+			asset_capitalization = frappe.get_doc("Asset Capitalization", self.capitalized_in)
+			if asset_capitalization.docstatus == 1:
+				asset_capitalization.cancel()
 
 	def delete_depreciation_entries(self):
 		if self.calculate_depreciation:
diff --git a/erpnext/assets/doctype/asset/depreciation.py b/erpnext/assets/doctype/asset/depreciation.py
index a93af94..df4593b 100644
--- a/erpnext/assets/doctype/asset/depreciation.py
+++ b/erpnext/assets/doctype/asset/depreciation.py
@@ -561,6 +561,8 @@
 def reverse_depreciation_entry_made_after_disposal(asset, date):
 	for row in asset.get("finance_books"):
 		asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset.name, "Active", row.finance_book)
+		if not asset_depr_schedule_doc:
+			continue
 
 		for schedule_idx, schedule in enumerate(asset_depr_schedule_doc.get("depreciation_schedule")):
 			if schedule.schedule_date == date:
diff --git a/erpnext/assets/doctype/asset_capitalization/asset_capitalization.py b/erpnext/assets/doctype/asset_capitalization/asset_capitalization.py
index cad74df..5e251a5 100644
--- a/erpnext/assets/doctype/asset_capitalization/asset_capitalization.py
+++ b/erpnext/assets/doctype/asset_capitalization/asset_capitalization.py
@@ -146,6 +146,7 @@
 	def cancel_target_asset(self):
 		if self.entry_type == "Capitalization" and self.target_asset:
 			asset_doc = frappe.get_doc("Asset", self.target_asset)
+			frappe.db.set_value("Asset", self.target_asset, "capitalized_in", None)
 			if asset_doc.docstatus == 1:
 				asset_doc.cancel()