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<h1>Court allows depreciation on roads and bridges as buildings.</h1> <h3>Commissioner of Income Tax Versus Madras Fertilizers Ltd.</h3> The Madras HC held in favor of the assessee, allowing depreciation on roads and bridges as buildings following the precedent set in CIT v. Gwalior Rayon ... - The Madras High Court ruled in favor of the assessee regarding the entitlement to depreciation on roads and bridges, treating them as buildings. The decision was based on a previous Supreme Court case, CIT v. Gwalior Rayon Silk Mfg. Co. Ltd. [1992] 196 ITR 149.