https://www.taxtmi.com/caselaws?id=66138 The Tribunal concluded that the subsidy received by the assessee from the State Government is capital in nature and not taxable as income. The subsidy can be adjusted against the cost of assets for depreciation purposes. The appeal was partly allowed based on these findings. en-us Fri, 28 Jun 1985 00:00:00 +0530 Mon, 21 Feb 2011 17:28:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66138 The Tribunal concluded that the subsidy received by the assessee from the State Government is capital in nature and not taxable as income. The subsidy can be adjusted against the cost of assets for depreciation purposes. The appeal was partly allowed based on these findings. Case-Laws Income Tax Fri, 28 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66138