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New table u/s 32.
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....xth Amendment) Rules, 1969 with effect from the assessment year 1970-71. Although depreciation allowance for the assessment year 1970-71 and later years will be allowed in accordance with the new Table. Depreciation allowance for the assessment year 1969-70 and earlier years will continue to be allowed at the rates laid down in the previous Table. 2. Under the Table of rates previously in force....
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....s under item III(ii) of the aforesaid Table i.e., whether the assessee is entitled to the grant of depreciation at special rates to be applied to the whole of the machinery and plant used in specified concerns. If the machinery and plant is used in any of the concerns listed under the aforesaid item III(ii) depreciation allowance will, ordinarily, be granted on the whole of the machinery or plant ....
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....n is exercised by the assessee depreciation in respect of such machinery and plant will have to be allowed at the appropriate special rate laid down under item III(ii) of the list; in relating to the remaining machinery and plant depreciation will have to be allowed at the appropriate special rate applicable to the concern under item III(ii). (b) If the case of the assessee does not fall under ....