Report No. 12

31. Repairs and insurance of machinery, plant and fumiture.-

In respect of machinery, plant or furniture used for the purposes of the business, profession or vocation the following deductions shall be allowed-

(i) the amount paid on account of current repairs thereto;

[Section 10(2)(v), part, for machinery etc.]

(ii) the amount of any premium paid in respect of insurance against risk of damage or destruction thereof.

[Section 10(2)(iv), part, for machinery etc.]