https://www.taxtmi.com/caselaws?id=16878 HC held the assessee is entitled to claim depreciation on factory roads, treating roads within the factory as part of the building in line with SC precedent, and answered that question against the Revenue. However, HC ruled that interest earned on a deposit made with the Tamil Nadu Electricity Board is not "profits and gains derived from the industrial undertaking" for purposes of section 80HH, since the undertaking must be the immediate source of income; the Appellate Tribunal erred in treating that interest as eligible for deduction. en-us Tue, 29 Apr 1997 00:00:00 +0530 Mon, 13 Oct 2025 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16878 HC held the assessee is entitled to claim depreciation on factory roads, treating roads within the factory as part of the building in line with SC precedent, and answered that question against the Revenue. However, HC ruled that interest earned on a deposit made with the Tamil Nadu Electricity Board is not "profits and gains derived from the industrial undertaking" for purposes of section 80HH, since the undertaking must be the immediate source of income; the Appellate Tribunal erred in treating that interest as eligible for deduction. Case-Laws Income Tax Tue, 29 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16878