Depreciation computation: block-based percentage on adjusted value, with continuation rules and deemed allowance consequences.

Depreciation is computed as the aggregate of a schedule-prescribed percentage of the adjusted value of each prescribed block of assets; assets outside prescribed blocks receive nil. Depreciation remains allowable for a block if its adjusted value exceeds zero despite demolition, destruction, discard or transfer of constituent assets, except where the schedule-prescribed percentage for that block is zero. An individual asset's depreciation is deemed allowed if it is outside a prescribed block or its acquisition expenditure has already been deducted under the Code.

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