Part XIV - AMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC. (From Section 156 to Section 189)
Depreciation rate adjustment in income-tax law increases allowable capital allowance rate for specified assets from prior statutory level. Statutory amendment substitutes a higher prescribed depreciation rate in clause (viia)(a) of section 36 of the Income-tax Act, effective from the amendment's commencement, thereby changing the rate used to compute allowable capital allowances and deductions for affected assets.
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Provisions expressly mentioned in the judgment/order text.
Depreciation rate adjustment in income-tax law increases allowable capital allowance rate for specified assets from prior statutory level.
Statutory amendment substitutes a higher prescribed depreciation rate in clause (viia)(a) of section 36 of the Income-tax Act, effective from the amendment's commencement, thereby changing the rate used to compute allowable capital allowances and deductions for affected assets.
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