Block of assets classification defines grouped tangible and intangible assets for uniform depreciation treatment in income tax. Definition and scope of the block of assets: a fiscal grouping rule that treats specified tangible and intangible assets as a single class for depreciation purposes. Tangible examples include buildings, machinery, plant and furniture; intangible examples include know how, patents, copyrights, trade marks, licences, franchises and other similar business or commercial rights, expressly excluding goodwill. The critical operative condition is that grouped assets must fall within a class for which the same percentage of depreciation is prescribed.