Supreme Court: Theatre Building Not a Plant for Depreciation

The Supreme Court allowed the civil appeal, overturning the High Court's decision that classified a theatre building as a plant for higher depreciation rates. The Court ruled against the assessee and in favor of the Revenue, with no costs awarded.

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The Supreme Court allowed the civil appeal, setting aside the High Court's order in favor of the assessee regarding the classification of a theatre building as a plant and entitlement to higher depreciation rates. The questions were answered in the negative and in favor of the Revenue. No costs were awarded.

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