Deduction for depreciation.

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....n sub-section (1) of an undertaking engaged in generation or generation and distribution of power, the depreciation shall be a percentage of its actual cost to the assessee, as prescribed. (3) (a) In case of any block of assets, depreciation shall be a percentage of its written down value, as prescribed; (b) when any asset forming part of the block of assets is partly, or not wholly and exclusively, used for the purposes of the business or profession, the deduction allowable shall be restricted to the fair proportionate part thereof as determined by the Assessing Officer, having regard to the usage for the purposes of the business or profession; (c) when deduction of actual cost in respect of any machinery or plant has been allowed....

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....for depreciation in computing the total income. (8) Further sum in addition to deduction under sub-section (3) shall be allowed, when-- (a) the assessee is engaged in the business of manufacture or production of any article or thing or in the business of generation, transmission or distribution of power; (b) the assessee acquires and installs any new machinery or plant; (c) the new machinery or plant is first put to use by the assessee for the purposes of business; and (d) the new machinery or plant- (i) is not a ship or an aircraft; (ii) was not used either within or outside India by any other person before its installation by the assessee; (iii) is not installed in any offi....

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....chargeable for the tax year before allowing the deduction under sub-section (1) is less than the allowable deduction under that sub-section, then-- (i) if such profits and gains is not a loss, the deduction under sub-section (1) shall be allowed to the extent of the available profits and gains; (ii) if such profits and gains is a loss, no deduction under sub-section (1) shall be allowed; (b) the amount of deduction which has not been allowed under clause (a) shall be added to the allowable deduction under this section, whether available or not, for the succeeding tax year and the total amount shall be deemed to be eligible for deduction in that year, and so on for the succeeding tax years; (c) the provisions of this ....