It was the first new township created after Hunterdon became a county. The township was incorporated as Readingtown Township, one of New Jersey's initial group of 104 townships, on February 21, 1798. Portions of the township were annexed by Tewksbury Township in 1832 and 1861. The township was named for John Reading, the first native-born governor of the British Province of New Jersey. Covering more than 48 square miles (120 km 2), it is the largest township in the county, covering almost 11% of the county's area.
Excluded Assets. The Purchased Assets do not include, and the [PARTY A] is not acquiring under this agreement (collectively, the Excluded Assets): any of the capital stock of the [PARTY B]; any Employee Benefit Plan, or any interest in or right under such plan;
Under the block concept, all the assets falling within the same class and subject to same rate of depreciation are clubbed together and considered as single asset. Any alterations to the value of the block have to be strictly in accordance with the provisions of Chapter IV D of Income Tax Act, 1961.As per section 32 of Income Tax Act, 1961, a assessee is entitled to claim depreciation on fixed assets only if the following conditions are satisfied: 1.nder the block concept, all the assets falling within the same class and subject to same rate of depreciation are clubbed together and considered as single asset. Any alterations to the value of the block have to be strictly in accordance with the provisions of Chapter IV D of Income Tax Act, 1961.