Section 2 - Amendment of section 2 - Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986

CHAPTER II AMENDMENTS TO THE INCOME-TAX ACT, 1961 2. Amendment of section 2. In section 2 of the Income-tax Act, 1961 (43 of 1961) (hereafter in this Chapter referred to as the Income-tax Act), after clause (10), the following clause shall be inserted with effect from the 1st day of April, 1988, namely :- (11) block of assets means a group of assets falling within a class of assets, being buildings, machinery, plant or furniture, in respect of which the same percentage of depreciation is prescribed; .