https://www.taxtmi.com/caselaws?id=212023 The High Court upheld the Income Tax Appellate Tribunal's decision, ruling that the waiver of loans by the Government should reduce the actual cost of the assets under Section 43(1) of the Income Tax Act. The Court found that the loans were granted specifically for meeting the capital cost of the assets, leading to the reduction in actual cost and impacting the depreciation calculation. The appeals were dismissed, with the Court answering the substantial question of law in the affirmative, favoring the Revenue and against the assessee. en-us Fri, 30 Mar 2012 00:00:00 +0530 Fri, 27 Nov 2015 15:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212023 The High Court upheld the Income Tax Appellate Tribunal's decision, ruling that the waiver of loans by the Government should reduce the actual cost of the assets under Section 43(1) of the Income Tax Act. The Court found that the loans were granted specifically for meeting the capital cost of the assets, leading to the reduction in actual cost and impacting the depreciation calculation. The appeals were dismissed, with the Court answering the substantial question of law in the affirmative, favoring the Revenue and against the assessee. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212023