https://www.taxtmi.com/article/detailed?id=660 The note identifies a mismatch between the statutory scope of depreciation allowances and the board's specific rulemaking power, noting that expansions to allow depreciation for intangible assets and on an actual cost basis were not reflected in the rulemaking clause. This gap permits challenges to rates and methods in the appendices as beyond rulemaking authority. The author therefore proposes amending the rulemaking provision to expressly empower prescription of depreciation percentages and methods for tangible and intangible assets and to permit actual-cost or written-down-value bases. en-us Sun, 31 Jan 2010 00:00:00 +0530 Sun, 31 Jan 2010 22:36:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=660 The note identifies a mismatch between the statutory scope of depreciation allowances and the board's specific rulemaking power, noting that expansions to allow depreciation for intangible assets and on an actual cost basis were not reflected in the rulemaking clause. This gap permits challenges to rates and methods in the appendices as beyond rulemaking authority. The author therefore proposes amending the rulemaking provision to expressly empower prescription of depreciation percentages and methods for tangible and intangible assets and to permit actual-cost or written-down-value bases. Articles Income Tax Sun, 31 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=660