Amendment of section 32

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..... n respect of which the assessee holds a lease or other right of occupancy and any capital expenditure is incurred by the assessee for the purposes of the business or profession after the 31st day of March, 1970 on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of, or improvement to, the building, then, in respect of depreciation o .....

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..... planation. For the purposes of this clause,- (i) "moneys payable", in respect of any structure or work, includes (a) any insurance or compensation moneys payable in respect thereof; (b) where the structure or work is sold, the price for which it is sold; and (ii) "sold" shall have the meaning assigned to it in the Explanation to clause (iii) of sub-section (1).'; (b) in sub-section ( .....

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