1991 (3) TMI 83 - HC - Income Tax

Summary

The High Court of Bombay ruled in a case involving depreciation allowance for roads within a refinery and housing colonies. The court held that the roads within the refinery premises qualify as 'building' for depreciation purposes, following precedent. However, roads inside housing colonies were also considered as part of the 'building' and eligible for depreciation as they were adjuncts to the buildings. The judgment favored the assessee on both counts.