https://www.taxtmi.com/caselaws?id=248381 The Tribunal partially allowed the assessee's appeal by directing the AO to proportionately book the subsidy as income and verify the actual cost of Plant & Machinery for depreciation. The disallowance of proportionate land cost was upheld, and penalty proceedings were dismissed as premature. Interest under Sections 234B, 234C, and 234D was to be calculated as required by law. en-us Fri, 23 May 2014 00:00:00 +0530 Wed, 11 Jun 2014 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248381 The Tribunal partially allowed the assessee's appeal by directing the AO to proportionately book the subsidy as income and verify the actual cost of Plant & Machinery for depreciation. The disallowance of proportionate land cost was upheld, and penalty proceedings were dismissed as premature. Interest under Sections 234B, 234C, and 234D was to be calculated as required by law. Case-Laws Income Tax Fri, 23 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248381