https://www.taxtmi.com/caselaws?id=17349 The article surveys income-tax treatment of depreciation, deductions and perquisites in industrial undertakings. It notes that a canteen building and roads, culverts and drains within factory premises were treated as part of the factory building for depreciation, while rights issue was capital in nature. Exchange fluctuation liability relating to machinery was recognised under section 43A, and weighted deduction claims under section 35B, including ECGC premium, were accepted where the statutory linkage was established. Employee residential quarter costs were not treated as perquisites in the stated circumstances. Pipelines, sanitary fittings and storage tanks required functional analysis as plant. Initial depreciation and surtax deduction were denied, and a provision for unutilised leave wages was held contingent and not deductible. en-us Wed, 27 Aug 1997 00:00:00 +0530 Mon, 21 Sep 2009 17:05:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17349 The article surveys income-tax treatment of depreciation, deductions and perquisites in industrial undertakings. It notes that a canteen building and roads, culverts and drains within factory premises were treated as part of the factory building for depreciation, while rights issue was capital in nature. Exchange fluctuation liability relating to machinery was recognised under section 43A, and weighted deduction claims under section 35B, including ECGC premium, were accepted where the statutory linkage was established. Employee residential quarter costs were not treated as perquisites in the stated circumstances. Pipelines, sanitary fittings and storage tanks required functional analysis as plant. Initial depreciation and surtax deduction were denied, and a provision for unutilised leave wages was held contingent and not deductible. Case-Laws Income Tax Wed, 27 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17349