Court allows cinema building depreciation claim as plant under Income-tax Act

The High Court of Allahabad ruled in favor of the assessee, allowing the depreciation claim for a cinema building as it was considered a plant under the Income-tax Act, 1961, following precedent from S. K. Tulsi and Sons v. CIT [1991] 187 ITR 685.

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The High Court of Allahabad ruled in favor of the assessee regarding the depreciation claim for a cinema building, stating it constitutes a plant under the Income-tax Act, 1961. The decision was based on a previous court ruling in S. K. Tulsi and Sons v. CIT [1991] 187 ITR 685.

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