[1]32. Depreciation[2].

(1) [3][In respect of depreciation of

(i) buildings, machinery, plant or furniture, being tangible assets;

(ii) know-how, patents, copyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, [4][not being goodwill of a business or profession,]

owned wholly or partly, by the assessee and used for the purposes of the business or profession the following deductions shall be allowed]

[5][(i) in the case of assets of an undertaking engaged in generation or generation and distribution of power, such percentage on the actual cost thereof to the assessee as may be prescribed[6];]

(ii) [7][in the case of any block of assets, such percentage on the written down value thereof as may be prescribed[8]] :

[9][* * * *]