1993 (1) TMI 59 - HC - Income Tax

Summary

The High Court of Bombay remitted the issue of deduction for gratuity to the Income-tax Appellate Tribunal for adjustment based on a Supreme Court decision. The court declined to answer the question regarding depreciation on jeep vans as it was of academic interest only. The court held that roads constructed within factory premises should be considered as "buildings" for depreciation purposes.