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of <h1>Tribunal rules subsidy not deductible from plant & machinery cost for depreciation, following precedent.</h1> The Tribunal ruled that the subsidy should not be deducted from the cost of plant and machinery for depreciation, following precedent and the Andhra ... - The appeal involved the deduction of subsidy from the cost of plant and machinery for depreciation purposes. The Tribunal upheld that the subsidy is not a contribution towards a specific asset, and depreciation should be allowed based on the gross cost without deducting the subsidy amount. The decision was influenced by a previous ruling and the Andhra Pradesh High Court case, ultimately favoring the assessee and dismissing the departmental appeal.
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