Facts
During an income year after 4 August 1997 and prior to 1 July 2001, the purchaser acquired the assets used in the carrying on of a business by a tax exempt vendor ("TEV") within the meaning of former paragraph 58-150(1)(c) of the ITAA 1997. The purchaser used the assets to carry on the same business. 2. The purchased assets included a number of units of plant which the TEV had originally acquired before 20 August 1980 ("old plant"). 3. The TEV's balance sheet for the year ended 30 June 1996 specified values for each unit of old plant which satisfied the requirements to be PABVs under former section 58-10 of ITAA 1997. 4. The purchaser has, in relation to each unit of old plant, chosen under former paragraph 58-155(1)(b) of the ITAA 1997 to calculate depreciation deductions by reference to the undeducted PABV of the unit.