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Q.

Under the Income Tax Act, 1961 “block of assets” for the purpose of charging depreciation means :

[A] Value of all the assets after depreciation

[B] Value of all tangible assets after charging depreciation

[C] Value of all those assets to which one rate of depreciation is applicable

[D] Gross value of machinery and plant less accumulated depreciation

Answer & Explanation
Answer: Value of all those assets to which one rate of depreciation is applicable

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