https://www.taxtmi.com/caselaws?id=181636 The Tribunal allowed the appeal in favor of the assessee, setting aside the orders of the lower authorities. It directed the Assessing Officer to reconsider the treatment of the subsidy received for setting up a unit, in line with the decision in M/s. Sapna Re-rolling Industries V/s. ITO. The Tribunal concluded that subsidies not specifically intended to offset the cost of assets should not be reduced from the actual cost of assets for depreciation purposes, thus aligning with established legal principles. en-us Thu, 28 Oct 2010 00:00:00 +0530 Fri, 20 Oct 2023 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181636 The Tribunal allowed the appeal in favor of the assessee, setting aside the orders of the lower authorities. It directed the Assessing Officer to reconsider the treatment of the subsidy received for setting up a unit, in line with the decision in M/s. Sapna Re-rolling Industries V/s. ITO. The Tribunal concluded that subsidies not specifically intended to offset the cost of assets should not be reduced from the actual cost of assets for depreciation purposes, thus aligning with established legal principles. Case-Laws Income Tax Thu, 28 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181636