Question

Explain the concept of Block of Assets. Also, explain the provisions applicable to set off and

carry forward and set off of unabsorbed depreciation and non-speculative business losses.​

Answer 1

Answer:

Block of assets is a group of assets falling within a class of assets comprising of: Tangible assets, being building, machinery, plant or furniture, Intangible assets, being know how, patents, copyrights, trade-marks, licenses, franchises or any other business or commercial rights of similar nature.