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Section 32 of the Income-tax Act, 1961 - Depreciation - Allowance rate of - Whether cinema building constituted 'Plant' and thus entitled to depreciation at rate of 10 percent on building - Held, yes FACTS The Tribunal held that the cinema building did not constitute 'plant' and, consequently, the assessee was not entitled to depreciation at 10 per cent. on building. On reference : HELD Following the decision of this court in the case of S.K. Tulsi and Sons v. CIT [1991] 187 ITR 685; [1990] UPTC 1105, the Tribunal was not right in holding that the cinema building did not constitute 'Plant' and, consequently, the assessee was not entitled to depreciation at 10 per cent on building. Note : The case has been decided in favour of the assessee. CASE REFERRED TO S.K. Tulsi & Sons v. CIT [1991] 187 ITR 685 (All.). A.N. Mahajan for the Applicant. JUDGMENT B.P. Jeevan Reddy, CJ.- The Income-tax Appellate Tribunal has referred the following question under section 256(1) of the…

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