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    Question

    Depreciation is allowable as an expense in the Income

    Tax Act, 1961, on the basis of block of assets on _______ method, except in the case of assets engaged in generation and distribution of power.
    A straight line Correct Answer Incorrect Answer
    B diminishing balance Correct Answer Incorrect Answer
    C production units Correct Answer Incorrect Answer
    D machine hour Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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