- (1.) BY THE COURT : On an application filed under S. 256(1) of the IT Act, 1961, the Tribunal has referred the following question for the opinion of this Court : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in treating cinema building as 'Plant' and consequently allowing higher depreciation ?"
(2.) HEARD learned counsel for the Revenue. None, appeared for the assessee. Mr. Mathur, learned counsel for the Revenue, submits that now issue in this case is squarely covered by the decision of the apex Court, in the case of CIT vs. Anand Theatres (2000) 160 CTR (SC) 492 : (2000) 244 ITR 192 (SC) wherein their Lordships have taken the view that any building, specially designed cannot be treated as plant.
(3.) FOLLOWING the view taken by their Lordships in the case of CIT vs. Anand Theatres (supra), we are of the view that the Tribunal has committed error in treating the cinema building as plant. In the result, we answer the question proposed in affirmative i.e., in favour of the Revenue and against the assessee. Reference so made stands disposed of accordingly.;