M/s WE & Co., is a proprietorship firm engaged in manufacture of an engineering product, at Chennai. On 12th January, 2023, it had purchased a new machinery for ₹ 10,00,000, which was immediately put to use. During t

M/s WE & Co., is a proprietorship firm engaged in manufacture of an engineering product, at Chennai. On 12th January, 2023, it had purchased a new machinery for ₹ 10,00,000, which was immediately put to use. During the previous year 2023-24, it purchased the following assets for business purposes, from Indian sellers: Date of purchase Type of asset Amount (₹) New or Second hand 23rd May, 2023 Machinery 12,20,000 New 14th June, 2023 Motor car 12,80,000 New 12th January, 2024 Machinery 18,00,000 Second hand The opening WDV of the block of plant and machinery, as on 1st April, 2023 was ₹ 32,00,000 (include the machinery purchase on 12th January, 2023). Compute the total depreciation allowable as per the provisions of section 32 for the assessment year 2024-25. All the assets were put to use immediately after purchase. Normal rate of depreciation for all these assets may be taken as 15%. The firm has not opted the scheme of section 115 BAC.