https://www.taxtmi.com/caselaws?id=168526 Capital employed for excess profits tax purposes includes the cost of buildings, plant, machinery and electric fittings acquired for the business and kept available for it, even if the assets had not yet begun production during the chargeable accounting period. The statutory expression under section 6 and Schedule II, rule 1 does not require actual use or active productivity of the particular assets in that period. Where funds have been laid out on assets for the business and those assets remain available for business use, their value forms part of the average capital employed. en-us Thu, 16 Oct 1958 00:00:00 +0530 Wed, 11 Mar 2015 12:40:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168526 Capital employed for excess profits tax purposes includes the cost of buildings, plant, machinery and electric fittings acquired for the business and kept available for it, even if the assets had not yet begun production during the chargeable accounting period. The statutory expression under section 6 and Schedule II, rule 1 does not require actual use or active productivity of the particular assets in that period. Where funds have been laid out on assets for the business and those assets remain available for business use, their value forms part of the average capital employed. Case-Laws Income Tax Thu, 16 Oct 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168526