Assessee's claim for 80% depreciation on energy-saving devices denied due to "block of assets" concept in tax law.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Claim of assessee for depreciation @ 80% of energy saving devices denied - after the introduction of concept of “block of assets”, the assets loose identity the moment they enter the block and therefore the rate of depreciation of a particular item of depreciable asset cannot be tampered with in a subsequent assessment year - AT....