p ltd acquired and installed machine Z, costing ₹400 crores (eligible for additional depreciation) on 1.11.17 in its territory located in the backward area of west bengal. WDV of the concerned block on 01.04.17 (consisting of machine X & Y ) was ₹600 crores 

On 01.12.2017 machine X is sold for ₹700 crores. Rate of depreciation applicable to the block is 15% state the tax implications of the events.