https://www.taxtmi.com/caselaws?id=67990 The Tribunal held that cash assistance received as a grant of export promotion was not taxable under s. 28(iv) but a capital receipt. Subsidy amount should not reduce the cost of assets for depreciation and deduction under s. 80J. Deduction under s. 80J was allowed without reducing asset cost by subsidy. Deductions under s. 80HH should not be deducted from gross income before s. 80HH. Disallowance on car expenses was restricted to 1/7th and full depreciation on the car was allowed. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decisions on all issues. en-us Thu, 14 Jul 1988 00:00:00 +0530 Wed, 16 Mar 2011 12:19:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67990 The Tribunal held that cash assistance received as a grant of export promotion was not taxable under s. 28(iv) but a capital receipt. Subsidy amount should not reduce the cost of assets for depreciation and deduction under s. 80J. Deduction under s. 80J was allowed without reducing asset cost by subsidy. Deductions under s. 80HH should not be deducted from gross income before s. 80HH. Disallowance on car expenses was restricted to 1/7th and full depreciation on the car was allowed. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decisions on all issues. Case-Laws Income Tax Thu, 14 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67990