https://www.taxtmi.com/caselaws?id=327735 The Tribunal allowed the assessee's appeal on the reduction of written down value of plant and machinery, citing that subsidies should not reduce the actual cost for depreciation purposes. It partially allowed the appeal on the disallowance of various expenses, restricting the disallowance to 5% instead of 20%. Additionally, the Tribunal ruled in favor of the assessee regarding the denial of Minimum Alternate Tax (MAT) liability under section 115JB, stating that the assessee, being a sick company, was not liable for MAT. The judgment highlighted the significance of following legal principles and precedents. en-us Wed, 06 Jan 2016 00:00:00 +0530 Wed, 18 May 2016 08:27:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327735 The Tribunal allowed the assessee's appeal on the reduction of written down value of plant and machinery, citing that subsidies should not reduce the actual cost for depreciation purposes. It partially allowed the appeal on the disallowance of various expenses, restricting the disallowance to 5% instead of 20%. Additionally, the Tribunal ruled in favor of the assessee regarding the denial of Minimum Alternate Tax (MAT) liability under section 115JB, stating that the assessee, being a sick company, was not liable for MAT. The judgment highlighted the significance of following legal principles and precedents. Case-Laws Income Tax Wed, 06 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327735