(1) For the purposes of this Act, while assessing the fixed capital of an industry, the following assets shall be assessed on the basis of:-
(a) land and underground, space, water, or physical structures constructed or improved under water,
(b) Physical structures built on land (such as drainage, internal roads, drinking water structures, water supply systems),
(c) office, factory, building or warehouse house of industry,
(d) Residential buildings constructed for employees or workers,
(e) Power supply and related equipment and systems,
(f) Machinery, equipment, tools and their spare parts,
(g) Means of transport,
(h) Office supplies and equipment of a capital nature,
(i) Fixtures and Furniture,
(h) Communication materials and related equipment and systems.
(2) In addition to the assets mentioned in sub-section (1), the following expenses incurred before the establishment of the industry or at various stages of construction shall also be assessed as fixed capital of the industry:-
(a) Technical and supervisory expenses to be capitalized,
(b) Pre-investment and pre-operating expenses,
(c) Interest expense to be capitalized,
(d) Expenditure on environmental studies and research prior to operation of the industry.