https://www.taxtmi.com/caselaws?id=15454 Storage tanks are treated as plant or machinery for extra-shift allowance purposes, and the exclusion in the depreciation rules applies only to storage tanks of mineral oil concerns; on that footing, molasses storage tanks owned by a sugar manufacturer qualify for the allowance. Amounts collected under a regulatory scheme for construction of molasses storage tanks were also examined under the overriding title doctrine: the text explains that such collections are not excluded from income merely because they are earmarked for statutory expenditure, although the governing precedent applied the result in the assessee's favour. en-us Tue, 27 Oct 1998 00:00:00 +0530 Thu, 06 Aug 2009 16:33:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15454 Storage tanks are treated as plant or machinery for extra-shift allowance purposes, and the exclusion in the depreciation rules applies only to storage tanks of mineral oil concerns; on that footing, molasses storage tanks owned by a sugar manufacturer qualify for the allowance. Amounts collected under a regulatory scheme for construction of molasses storage tanks were also examined under the overriding title doctrine: the text explains that such collections are not excluded from income merely because they are earmarked for statutory expenditure, although the governing precedent applied the result in the assessee's favour. Case-Laws Income Tax Tue, 27 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15454