1998 (3) TMI 43 - HC - Income Tax

Summary

The High Court of Kerala, in a judgment related to the assessment year 1986-87, considered whether a theatre building can be classified as a plant and if the assessee is entitled to a higher rate of depreciation on the theatre. The court answered both questions affirmatively in favor of the assessee, following a previous Full Bench decision. (Case citation: 1998 (3) TMI 43 - KERALA High Court)