1985 (5) TMI 111 - AT - Income Tax

Summary

The appeal was filed by the assessee regarding depreciation on a cinema building. The claim that the cinema building should be treated as a plant and depreciation allowed at the plant rate was accepted. The building was considered an apparatus for carrying on the business of film exhibition and depreciation was allowed at the normal plant rate. The alternative claims were deemed unnecessary. The appeal was allowed in favor of the assessee.