Kerala High Court: Theatre Building Qualifies as Plant for Depreciation

The High Court of Kerala held that a theatre building can be classified as a plant and the assessee is entitled to a higher rate of depreciation on the theatre for the assessment year 1986-87. This decision was in favor of the assessee, following a previous Full Bench ruling.

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The High Court of Kerala, in a judgment related to the assessment year 1986-87, considered whether a theatre building can be classified as a plant and if the assessee is entitled to a higher rate of depreciation on the theatre. The court answered both questions affirmatively in favor of the assessee, following a previous Full Bench decision. (Case citation: 1998 (3) TMI 43 - KERALA High Court)

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