https://www.taxtmi.com/caselaws?id=172841 Subsidy received for acquisition of assets did not reduce the actual cost for depreciation, following prior authority, so depreciation was allowed without deducting the subsidy. Relief under Section 80HH, however, had to be computed on income determined in accordance with the Act and not on gross commercial profits; Section 80AB governed that computation, so investment allowance as a special deduction was to be taken into account before granting the relief. The reference was thus answered partly for the assessee on depreciation and partly for the Revenue on the Section 80HH computation. en-us Wed, 29 Nov 1995 00:00:00 +0530 Wed, 02 Sep 2015 12:51:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172841 Subsidy received for acquisition of assets did not reduce the actual cost for depreciation, following prior authority, so depreciation was allowed without deducting the subsidy. Relief under Section 80HH, however, had to be computed on income determined in accordance with the Act and not on gross commercial profits; Section 80AB governed that computation, so investment allowance as a special deduction was to be taken into account before granting the relief. The reference was thus answered partly for the assessee on depreciation and partly for the Revenue on the Section 80HH computation. Case-Laws Income Tax Wed, 29 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172841