1978 (2) TMI 97

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....d company and carries on business in petroleum. This reference under section 256(2) of the Income-tax Act, 1961, arises in respect of the assessment year 1964-65, for which the relevant accounting year is the calendar year 1963. During the accounting year relevant to the assessment year, the assessee had incurred an expenditure of Rs. 11,200 on the driveways and the compound walls and had treated ....

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....inion that the driveways and the compound walls should be classified as building on which depreciation was allowable. In order to enable the assessee to receive motor vehicles for the purpose of supplying petrol, the Tribunal observed, the assessee had necessarily to have roads and having particular regard to the business carried on by the assessee it was also necessary to enclose the area by a co....

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.... should be construed in the light of sub-section (2) of section 41 of the Income-tax Act, 1961. In other words, it was urged that it was only those buildings, machinery, plant or furniture which were capable of being discarded, sold, demolished or destroyed, that should be considered to be " building ". This argument, however, does not further the point. Even if it be considered that the building ....

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.... with no walls and no roof but a mere pit dug in the ground with bricks by its side was not a " building " within the meaning of section 9 of the U. P. Zamindari Abolition & Land Reforms Act 1951. The Supreme Court observed that the expression " building " must be understood in the context in which it was used and, in the absence of any definition in any particular Act, in the light of ordinary gr....