Depreciation on leasehold improvements permitted, with prescribed allowance and shortfall deduction on disposal or lease termination.

Amendment permits depreciation allowance for leasehold structures or works executed by an assessee on a building not owned by them, applying prescribed percentages on written down value and remaining subject to existing provisions; where such structure or work is disposed of or surrendered on lease determination, a deduction equals the shortfall between written down value and moneys payable plus scrap value, provided the deficiency is written off, with "moneys payable" including insurance, compensation or sale proceeds.

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