https://www.taxtmi.com/caselaws?id=181635 The HC of Gujarat upheld the Tribunal's decision, affirming that the subsidy received for windmills should not be deducted from the written down value for depreciation purposes, as it serves as an incentive for promoting alternative energy, not asset acquisition. The Tax Appeal was dismissed. The issue of the subsidy being taxable as a revenue receipt was not addressed, as it was not raised in prior proceedings, leading to its exclusion from the judgment. en-us Tue, 16 Aug 2011 00:00:00 +0530 Tue, 06 Feb 2024 13:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181635 The HC of Gujarat upheld the Tribunal's decision, affirming that the subsidy received for windmills should not be deducted from the written down value for depreciation purposes, as it serves as an incentive for promoting alternative energy, not asset acquisition. The Tax Appeal was dismissed. The issue of the subsidy being taxable as a revenue receipt was not addressed, as it was not raised in prior proceedings, leading to its exclusion from the judgment. Case-Laws Income Tax Tue, 16 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181635