https://www.taxtmi.com/caselaws?id=21369 HC held that internal roads within factory premises constitute part of "buildings" for purposes of depreciation, following prior HC and SC authority, and therefore upheld the assessee's entitlement to depreciation on their value. On relief under s.80J for a new industrial undertaking, HC accepted that "profits and gains" must be computed in the commercial sense, without mandatorily reducing depreciation and investment allowance unit-wise where the Act does not so require. Past losses, depreciation and development rebate of the cold storage unit were not required to be first set off against current-year profits for s.80J computation. The Revenue's contentions were rejected and the assessee's claim sustained. en-us Tue, 21 Jul 1992 00:00:00 +0530 Thu, 11 Dec 2025 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21369 HC held that internal roads within factory premises constitute part of "buildings" for purposes of depreciation, following prior HC and SC authority, and therefore upheld the assessee's entitlement to depreciation on their value. On relief under s.80J for a new industrial undertaking, HC accepted that "profits and gains" must be computed in the commercial sense, without mandatorily reducing depreciation and investment allowance unit-wise where the Act does not so require. Past losses, depreciation and development rebate of the cold storage unit were not required to be first set off against current-year profits for s.80J computation. The Revenue's contentions were rejected and the assessee's claim sustained. Case-Laws Income Tax Tue, 21 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21369