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 the entire theatre building can be considered a plant for depreciation purposes, overturning the Revenue's argument that only parts of the building should qualify. The judgment affirmed the decision of the Income Tax Appellate Tribunal, thereby allowing the assessee's claim for higher depreciation rates.