2015 (8) TMI 476 - SCH - Income Tax

Higher Depreciation on studio building - HC allowed assessee claim of depreciation holding that the assessee s studio would constitute plant in the hands of the assessee and consequently be entitled to depreciation at the rates applicable to plant and machinery - Held that - Having regard to the fact that the tax effect is minimal, we refuse to interfere with these appeals. We, therefore, dismiss these appeals leaving the question of law open. - Decided against revenue.

Summary

The Supreme Court refused to interfere with the appeals due to minimal tax effect and dismissed them, leaving the question of law open. (Case citation: 2015 (8) TMI 476 - SC)