2002 (8) TMI 839

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....section 256(1) of the Income-tax Act, 1961 ('the Act'), the Appellate Tribunal, Jaipur, has referred the following question for our opinion. "Whether, on the facts and circumstances of the case, the ITAT was right in treating the hotel building and various fittings and equipments installed therein as 'plant' for the purpose of allowing depreciation and investment allowance ?" 2. The as....

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....es of business cannot be treated as a 'plant'. The learned counsel for the revenue also brought to our notice the decision in the case of Indian Hotels Co. Ltd. v. ITO [2000] 245 ITR 5382 (SC) wherein their Lordships have also considered and have taken the view that by manufacture or processing of food packets, the hotel cannot be called as an 'industrial undertaking'. Their lordships negatived th....