🚨 Important for CAs & Tax Auditors handling Non-Corporates 🚨 Many non-corporate assessees follow the Block of Assets method under the Income Tax Act, 1961, for recording and depreciating Property, Plant & Equipment resulting in non-compliance with AS 10. To address this, I recommend insisting the assessee to include an explicit note in the Notes to Accounts acknowledging the deviation and its rationale. (Sharing a sample disclosure used in our financial statements) This can be adapted for similar non-corporate cases where gross block-wise accounting is not maintained.