B.P Jeevan Reddy, C.J:— The question referred under section 256(1) of the Income-tax Act, 1961, reads as follows:
“Whether, in the facts and circumstances of the case, the Appellate Tribunal was justified in law in holding that the cinema building did not constitute a ‘plant’ within the meaning of section 43(3) of the Income-tax Act, 1961, and in holding that depreciation at 10% could not be claimed in respect there of?”
2. An identical question was answered in favour of the assessee by a Bench of this court in S.K Tulsi and Sons v. CIT, [1991] 187 ITR 685.
3. Following the said decision, the question referred herein is answered in the negative, i.e, in favour of the assessee and against the Revenue.