https://www.taxtmi.com/caselaws?id=325725 The Tribunal held that the subsidy received by the assessee under the Package Scheme of Incentives, 2001, was a capital receipt and not subject to Explanation 10 to Section 43(1) of the Income-tax Act. Consequently, the subsidy amount was not to be deducted from the cost of assets for depreciation calculation. The appeal of the assessee was allowed, directing the Assessing Officer to re-calculate the depreciation without reducing the subsidy amount. en-us Wed, 10 Feb 2016 00:00:00 +0530 Fri, 18 Mar 2016 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325725 The Tribunal held that the subsidy received by the assessee under the Package Scheme of Incentives, 2001, was a capital receipt and not subject to Explanation 10 to Section 43(1) of the Income-tax Act. Consequently, the subsidy amount was not to be deducted from the cost of assets for depreciation calculation. The appeal of the assessee was allowed, directing the Assessing Officer to re-calculate the depreciation without reducing the subsidy amount. Case-Laws Income Tax Wed, 10 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325725