Difference in it act and companies act

Under the companies Act,  if the sale of the asset exceeds it's cost then the excess is credited tot eh P&L account.  Under the co's act if the block ceases to exist after the sale of asset then only the profit /loss is calculated on the sale.  Under the I-t act Depreciation is calculated by taking the opening WDV adding to it the assets purchase during the year.  deducting the assets sold during the year.  On the balance then depreciation is calculated by applying the rates applicable to the block.

I want to brief this in simpler tems as I have already submitted the required report. while calcuating closing block we have to consider the purchase price as per comapnies act and sales consideration as per IT act.

Apart from this as u said about profit calcuation thats different. Thats already cleared how to calcuate the profit.

I love to add one more point that difference in tax rates as per both the tax is treated as DTA or DTL.