https://www.taxtmi.com/caselaws?id=254092 ITAT, Kolkata held the sales tax incentive is a capital receipt and not to be reduced from the actual cost/WDV of fixed assets for depreciation; the assessee's treatment was upheld. The assessee was allowed the balance 50% additional depreciation under section 32(1)(iia) in the subsequent year. Interest subsidy was treated as capital in nature but the AO was directed to consider reduction for computation of asset cost under applicable provisions. No disallowance under section 14A was warranted. Claim for industrial promotion assistance was remitted to the AO for fresh adjudication. en-us Mon, 08 Dec 2014 00:00:00 +0530 Fri, 31 Oct 2025 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254092 ITAT, Kolkata held the sales tax incentive is a capital receipt and not to be reduced from the actual cost/WDV of fixed assets for depreciation; the assessee's treatment was upheld. The assessee was allowed the balance 50% additional depreciation under section 32(1)(iia) in the subsequent year. Interest subsidy was treated as capital in nature but the AO was directed to consider reduction for computation of asset cost under applicable provisions. No disallowance under section 14A was warranted. Claim for industrial promotion assistance was remitted to the AO for fresh adjudication. Case-Laws Income Tax Mon, 08 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254092