Deduction for depreciation.

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

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....ssessee, is held on lease or by any other right of occupancy is used for the purposes of business or profession of the assessee, and if any capital expenditure is incurred by the assessee for the purposes of business or profession on construction of any structure or any work by way of renovation, extension or improvement to such building, then such structure or work shall be treated as a building owned by the assessee for the purposes of this section. (7) The provisions of this section shall apply whether or not the assessee has claimed deduction for depreciation in computing his total income. (8) In addition to deduction under sub-section (3), additional deduction in respect of depreciation for any new machinery or plant shall be all....

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....hall be allowed in the immediately succeeding tax year. (10) The difference between the written down value and the moneys payable including the scrap value, if any, for any tangible asset in respect of which depreciation is claimed and allowed under sub-section (2), shall be allowed as deduction when- (a) such asset is sold, discarded, demolished or destroyed in the tax year not being the tax year in which it is first put into use; (b) the moneys payable including the scrap value, if any, is less than its written down value; and (c) such deficiency is actually written off in the books of account of the assessee. (11) (a) Where the profits and gains chargeable for the tax year before allowing the deduction un....