https://www.taxtmi.com/circulars?id=4867 The amending Act replaces asset by asset depreciation with a block of assets regime, prescribes accelerated rates for blocks, omits various initial and terminal depreciation provisions, and instructs that proceeds from sale or disposal reduce block written down value. It substitutes section 50 to treat excess consideration or the cessation of a block as deemed short term capital gain or loss, sets transitional written down value rules, and makes consequential amendments to related provisions. en-us Tue, 23 Sep 1986 00:00:00 +0530 Mon, 11 Aug 2008 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4867 The amending Act replaces asset by asset depreciation with a block of assets regime, prescribes accelerated rates for blocks, omits various initial and terminal depreciation provisions, and instructs that proceeds from sale or disposal reduce block written down value. It substitutes section 50 to treat excess consideration or the cessation of a block as deemed short term capital gain or loss, sets transitional written down value rules, and makes consequential amendments to related provisions. Circulars Income Tax Tue, 23 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4867