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            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

            Provisions expressly mentioned in the judgment/order text.

            <h1>Depreciation rates under income tax determine allowable capital asset write offs and block method allowances for business use.</h1> Depreciation under Section 32 and Rule 5 is an allowance for capital assets owned and used in business or profession, mandatory from assessment year 2002-03 and available on tangible and intangible assets. Two methods apply: Straight Line Method for power generating units and the Written Down Value (block) method otherwise. A schedule enumerates blocks of assets and corresponding WDV percentages for buildings, furniture, machinery and plant, vessels and intangible assets, with special higher rates for specified environmental, energy saving, medical and renewable energy equipment and defined ancillary terms clarifying asset scope.

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