https://www.taxtmi.com/caselaws?id=182395 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in favor of the assessee regarding the addition of sales tax subsidy claimed as capital receipts and the disallowance of depreciation on assets not registered in the assessee's name for the assessment year 2007-08. The Tribunal affirmed that the sales tax subsidy was correctly treated as a capital subsidy and reduced from taxable income, following previous Tribunal orders. Additionally, the Tribunal upheld the allowance of depreciation on unregistered assets, citing earlier ITAT decisions and Supreme Court precedents, ultimately dismissing the revenue's appeal and ruling in favor of the assessee. en-us Mon, 07 Jun 2010 00:00:00 +0530 Mon, 09 May 2016 15:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182395 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in favor of the assessee regarding the addition of sales tax subsidy claimed as capital receipts and the disallowance of depreciation on assets not registered in the assessee's name for the assessment year 2007-08. The Tribunal affirmed that the sales tax subsidy was correctly treated as a capital subsidy and reduced from taxable income, following previous Tribunal orders. Additionally, the Tribunal upheld the allowance of depreciation on unregistered assets, citing earlier ITAT decisions and Supreme Court precedents, ultimately dismissing the revenue's appeal and ruling in favor of the assessee. Case-Laws Income Tax Mon, 07 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182395