https://www.taxtmi.com/caselaws?id=23682 The court held that roads within the factory premises are eligible for depreciation allowance as "building." Regarding provisions for deferred annuity policies on directors' lives, it was determined that such provisions did not constitute a perquisite under section 40(a)(v) of the Income-tax Act, 1961. The court emphasized that directors had no present right to the sum, as it was payable only upon retirement or death, aligning with relevant legal principles. The decision favored the assessee, concluding that the annuity policies did not amount to a perquisite. No costs were awarded in this judgment. en-us Fri, 06 Oct 1989 00:00:00 +0530 Wed, 23 Dec 2009 11:58:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23682 The court held that roads within the factory premises are eligible for depreciation allowance as "building." Regarding provisions for deferred annuity policies on directors' lives, it was determined that such provisions did not constitute a perquisite under section 40(a)(v) of the Income-tax Act, 1961. The court emphasized that directors had no present right to the sum, as it was payable only upon retirement or death, aligning with relevant legal principles. The decision favored the assessee, concluding that the annuity policies did not amount to a perquisite. No costs were awarded in this judgment. Case-Laws Income Tax Fri, 06 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23682