Supreme Court of India
Commissioner of Income Tax, Trivandrum v. M?s Anand Theatres Etc. Etc.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
1 Supreme Court bench has cited this judgment.
What the Court ordered
In the result, it is held that the building used for running of a hotel or A carrying on cinema business cannot be held to be a plant because: (1) The scheme of Section 32, as discussed above, clearly envisages separate depreciation for a building, machinery and plant, furniture and fittings etc .. The word 'plant' is given inclusive meaning under Section 43(3) which nowhere includes buildings.
Judgment, page 40
From the headnote
Income Tax Act, 1961-Sections 32 and 43 (3)-Depreciation-Rate of- 'Building' and 'Plant '-Meaning of-Difference between-Building of a hotel or a cinema-Held, are not apparatus or tool for running the business of hotel or cinema-Cannot be 'plant' for the purpose of depreciation Income Tax Rules, 1962-Rule 5 and part I Appendix I. Rule 5 of the Income Tax Rules, 1962 provides for calculation ot depreciation as specified in table in Part I o( Appendix I to the Income Tax Rules, 1962. The general rate of depreciation to be charged for 'buildings' under the said Appendix is 5% whereas the general
Where later benches applied it
Of those, 1 referred to
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