https://www.taxtmi.com/acts?id=3251 Section 115VK requires apportioning the aggregate book written down value of the block of ships/inland vessels between qualifying and other assets on the first day of the first previous year in the ratio of their book written down values, creating a separate block of qualifying assets for depreciation; revaluations after the specified Finance Act assent date are ignored. Transfers of assets between blocks require proportionate transfers of written down value based on book values as on the first day of the previous year, and depreciation for a year of change is allocated in proportion to days of use for tonnage tax business and other purposes. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 14:49:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3251 Section 115VK requires apportioning the aggregate book written down value of the block of ships/inland vessels between qualifying and other assets on the first day of the first previous year in the ratio of their book written down values, creating a separate block of qualifying assets for depreciation; revaluations after the specified Finance Act assent date are ignored. Transfers of assets between blocks require proportionate transfers of written down value based on book values as on the first day of the previous year, and depreciation for a year of change is allocated in proportion to days of use for tonnage tax business and other purposes. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3251