Section 32 of Income Tax Act, 1961

In case of Non Corporate Assesses,If there is a Block(Plant and Machinery) exist at the opening of Financial Year (1000000) and during the year some assets are purchased of that block only(5000000) and the same assets were sold were sold (4500000). Due to these events the Block of Asset is still Positive (500000)as not resulting in Short Term Capital Gain. What will be the Accounting Treatment and how much is Depriciation allowed as per Income Tax Act,1961.(Rate of Depriciation - 15%)