https://www.taxtmi.com/caselaws?id=17349 Income-tax treatment of factory-related assets, employee benefits and export expenditure turns on their functional use, capital character and certainty of liability. Canteen buildings, internal roads, culverts and drains qualify as factory buildings for depreciation, while exchange-fluctuation increases in machinery liability and qualifying export-credit insurance premiums support the relevant depreciation and weighted deduction claims. Rights-issue expenses are capital expenditure, and surtax on business profits is not deductible. Employee-quarter depreciation, property tax, ground rent and repairs are not perquisite expenditure in the stated circumstances. Plant status of pipelines, sanitary fittings and storage tanks requires reconsideration under the functional test. Leave-salary provisions remain non-deductible where liability depends on uncertain future utilisation, accumulation or lapse. 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 Income-tax treatment of factory-related assets, employee benefits and export expenditure turns on their functional use, capital character and certainty of liability. Canteen buildings, internal roads, culverts and drains qualify as factory buildings for depreciation, while exchange-fluctuation increases in machinery liability and qualifying export-credit insurance premiums support the relevant depreciation and weighted deduction claims. Rights-issue expenses are capital expenditure, and surtax on business profits is not deductible. Employee-quarter depreciation, property tax, ground rent and repairs are not perquisite expenditure in the stated circumstances. Plant status of pipelines, sanitary fittings and storage tanks requires reconsideration under the functional test. Leave-salary provisions remain non-deductible where liability depends on uncertain future utilisation, accumulation or lapse. Case-Laws Income Tax Wed, 27 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17349