C.I.T., Trivandrum vs M/S Anand Theatres

The Supreme Court addressed whether a building used as a hotel or cinema theatre qualifies as 'plant' under Section 32 of the Income Tax Act, 1961, allowing for depreciation. The Court held that if the building is integral to the business operations, it can be classified as a plant, thus entitling the assessee to higher depreciation rates. The decision of the High Court favoring the assessee was upheld, affirming that the entire theatre building qualifies for depreciation as a plant.