2001 (8) TMI 11 - SCH - Income Tax

Whether a hotel building is a plant entitled to depreciation at the rate that is applicable to plants and whether the assessee is entitled to investment allowance under section 32A - Held, no - Accordingly, the civil appeal is allowed

Summary

The Supreme Court allowed the civil appeal regarding the depreciation of a hotel building as a plant and investment allowance under section 32A of the Income-tax Act, 1961. The respondent did not appear, and the appeal was granted based on a previous judgment. The judgment and order under challenge were set aside. No costs were awarded.