https://www.taxtmi.com/caselaws?id=36935 A conference hall built as part of an existing hotel may qualify as a new building used as a hotel for initial depreciation where the statutory conditions are met, and finishing works such as painting and waterproofing that are necessary to complete the structure may be included in the construction cost for depreciation. Composition fees paid for unauthorised construction retain their penal character and are not part of the asset's cost. For relief under section 80J, capital employed must be computed under rule 19A, with borrowed capital included and rule 19 adjustments, including those tied to profits and depreciation, not governing that computation. en-us Mon, 24 Sep 1979 00:00:00 +0530 Thu, 25 Mar 2010 15:18:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36935 A conference hall built as part of an existing hotel may qualify as a new building used as a hotel for initial depreciation where the statutory conditions are met, and finishing works such as painting and waterproofing that are necessary to complete the structure may be included in the construction cost for depreciation. Composition fees paid for unauthorised construction retain their penal character and are not part of the asset's cost. For relief under section 80J, capital employed must be computed under rule 19A, with borrowed capital included and rule 19 adjustments, including those tied to profits and depreciation, not governing that computation. Case-Laws Income Tax Mon, 24 Sep 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36935