QUESTION FIVE You are provided with the following details: 1. Installing a system of ventilation in the factory. 2. Legal expenses incurred when acquiring a new building 3. Giving the factory a fresh cost of plant 5. Expenditure incurred in demolishing part of a wall to make room for a recently purchased machine. 4. Replacing 200 tiles on a roof damaged by wind Required: (a) From an Income Tax perspective indicate for each of the above items whether it is capital or revenue ( 5 marks) (b) Timexa Limited provided the following details with respect to its fixed assets for the year of income 2005 . expenditure. Explain. 1 . 2. The industrial building had been constructed sometimes back in 2000 at a cusi vi u... claimed. machines were Sh 2,000,000. Due to an oversight, no investment deduction was claimed. 3. During the year the following assets were purchased: 4. A car for use by the directors was involved in an accident and written off. No recoveries were made. 5. In December, all computers were sold as one lot for Sh.1,220,000. 6. Assume 60% as the rate of investment deductions. For year 2000 . Required: (i) Capital allowances for Timexa Limited for year of Income 2005. (ii) Comment on the error resulting from non-claim of investment deduction. ( 4 marks)