https://www.taxtmi.com/caselaws?id=71160 The appeal centered on the correctness of depreciation claimed by the assessee at 20% on cinema assets, particularly whether the building of the cinema hall should be considered a plant for depreciation purposes. The Income Tax Tribunal ruled in favor of the assessee, holding that the mistake in allowing depreciation at different rates on various assets was not obvious and could be subject to differing opinions, thus not warranting rectification under section 154 of the Act. As a result, the Tribunal set aside the initial order and allowed the appeal in favor of the assessee. en-us Wed, 21 Nov 1979 00:00:00 +0530 Thu, 21 Apr 2011 16:28:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71160 The appeal centered on the correctness of depreciation claimed by the assessee at 20% on cinema assets, particularly whether the building of the cinema hall should be considered a plant for depreciation purposes. The Income Tax Tribunal ruled in favor of the assessee, holding that the mistake in allowing depreciation at different rates on various assets was not obvious and could be subject to differing opinions, thus not warranting rectification under section 154 of the Act. As a result, the Tribunal set aside the initial order and allowed the appeal in favor of the assessee. Case-Laws Income Tax Wed, 21 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71160