ITAT Jaipur: Subsidy not Deducted from Generator Cost

The Appellate Tribunal ITAT Jaipur upheld the decision of the CIT(A) regarding the subsidy not being deducted from the cost of the generator for depreciation and investment allowance. The Tribunal also dismissed the Department's appeal on the issue of interest under s. 215 due to no liability as a consequence of assessment.

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The Appellate Tribunal ITAT Jaipur upheld the decision of the CIT(A) regarding the subsidy granted by the State Govt. not being deducted from the cost of the generator for depreciation and investment allowance. The Tribunal also dismissed the Department's appeal on the issue of interest under s. 215 as there was no liability as a consequence of assessment. (Case citation: 1987 (1) TMI 184 - ITAT Jaipur)

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