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The Income- Tax Act, 1995

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Kerala High Court
Commissioner Of Income-Tax vs Anand Theatres on 11 March, 1998
Equivalent citations: 2000 241 ITR 111 Ker
Author: O Prakash
Bench: O P Koshy, S Marimuthu

JUDGMENT

Om Prakash, C.J.

1. At the instance of the Revenue, the Income-tax Appellate Tribunal (Cochin Bench) referred the following questions, relating to the assessment year 1986-87, under Section 256(1) of the Income-tax Act, 1961, for the opinion of this court :

"(1) Whether, on the facts and in the circumstances of the case, the theatre building can be considered as a plant ?

(2) Whether, on the facts and in the circumstances of the case, the assessee is entitled to higher rate of depreciation on the theatre ?"

2. Similar questions came up for our consideration in I. T. R. Nos. 44 of 1994, 54 and 55 of 1995 (CIT v. Hotel Luciya, [1998] 231 ITR 492 (Ker) [FB]), by reference made by a Division Bench, in which, by a judgment dated March 11, 1998, we have answered the aforementioned questions in the affirmative. Following the said Full Bench decision, we answer both the abovementioned questions in the affirmative, that is, in favour of the assessee and against the Revenue.