https://www.taxtmi.com/caselaws?id=19020 The High Court of Bombay ruled in favor of the assessee in a case concerning the interpretation of sections 32 and 33 of the Income-tax Act, 1961. The Court held that false ceilings and accessories in cinema theatres should be classified as "fittings" for depreciation allowance, justifying a higher rate of 15%. Additionally, chairs in the auditorium were deemed eligible as "plant" for claiming development rebate under section 33, following a functional test and judicial precedents. The Court affirmed the Tribunal's decisions, emphasizing the importance of the purpose and functionality of the items in question. en-us Thu, 15 Jul 1993 00:00:00 +0530 Tue, 03 Nov 2009 13:52:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19020 The High Court of Bombay ruled in favor of the assessee in a case concerning the interpretation of sections 32 and 33 of the Income-tax Act, 1961. The Court held that false ceilings and accessories in cinema theatres should be classified as "fittings" for depreciation allowance, justifying a higher rate of 15%. Additionally, chairs in the auditorium were deemed eligible as "plant" for claiming development rebate under section 33, following a functional test and judicial precedents. The Court affirmed the Tribunal's decisions, emphasizing the importance of the purpose and functionality of the items in question. Case-Laws Income Tax Thu, 15 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19020