https://www.taxtmi.com/caselaws?id=121279 The appeal was allowed in favor of the assessee. The waiver of the loan amounting to Rs. 86,02,061 by Wipro Finance Ltd. was held not to be treated as a subsidy, grant, or reimbursement towards the cost of fixed assets under section 43 Explanation 10 of the Income-tax Act, 1961. Therefore, the disallowance of depreciation made by the Assessing Officer and CIT(A) was deemed unjustified as the loan waiver did not impact the actual cost of the assets for depreciation calculation. en-us Fri, 31 Jul 2009 00:00:00 +0530 Sat, 28 Jul 2012 10:23:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121279 The appeal was allowed in favor of the assessee. The waiver of the loan amounting to Rs. 86,02,061 by Wipro Finance Ltd. was held not to be treated as a subsidy, grant, or reimbursement towards the cost of fixed assets under section 43 Explanation 10 of the Income-tax Act, 1961. Therefore, the disallowance of depreciation made by the Assessing Officer and CIT(A) was deemed unjustified as the loan waiver did not impact the actual cost of the assets for depreciation calculation. Case-Laws Income Tax Fri, 31 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121279