https://www.taxtmi.com/caselaws?id=27034 The court ruled in favor of the Department, denying the inclusion of ground rent, corporation tax, and house tax as part of the actual cost of the cinema building for depreciation purposes. The court emphasized that these expenses lack a direct nexus to the construction cost of the building and are not to be capitalized. The judgment highlighted that taxes such as corporation tax and house tax are payable irrespective of the building's construction and do not form part of the actual cost. Consequently, the expenses were not allowed to be considered for depreciation, resulting in a decision against the taxpayer. en-us Fri, 10 May 1985 00:00:00 +0530 Wed, 10 Feb 2010 12:44:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27034 The court ruled in favor of the Department, denying the inclusion of ground rent, corporation tax, and house tax as part of the actual cost of the cinema building for depreciation purposes. The court emphasized that these expenses lack a direct nexus to the construction cost of the building and are not to be capitalized. The judgment highlighted that taxes such as corporation tax and house tax are payable irrespective of the building's construction and do not form part of the actual cost. Consequently, the expenses were not allowed to be considered for depreciation, resulting in a decision against the taxpayer. Case-Laws Income Tax Fri, 10 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27034