https://www.taxtmi.com/caselaws?id=20913 The court held that cinema theatres should be treated as 'plant' or 'office premises' under section 40(3)(vi) of the Finance Act, 1983, excluding them from taxable assets. The court also found that the amendment introduced by the Finance Act, 1988, which excluded cinema houses from taxable assets, had retrospective operation for the assessment years 1984-85 and 1985-86. As a result, the court ruled in favor of the assessee, interpreting the provisions to exclude cinema theatres from taxable assets and affirming the retrospective application of the amendment. en-us Fri, 27 Nov 1992 00:00:00 +0530 Wed, 18 Nov 2009 10:43:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20913 The court held that cinema theatres should be treated as 'plant' or 'office premises' under section 40(3)(vi) of the Finance Act, 1983, excluding them from taxable assets. The court also found that the amendment introduced by the Finance Act, 1988, which excluded cinema houses from taxable assets, had retrospective operation for the assessment years 1984-85 and 1985-86. As a result, the court ruled in favor of the assessee, interpreting the provisions to exclude cinema theatres from taxable assets and affirming the retrospective application of the amendment. Case-Laws Wealth-tax Fri, 27 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20913