https://www.taxtmi.com/caselaws?id=4347 The High Court of Himachal Pradesh ruled that the cost of assets should not be reduced by the subsidy received by the assessee from the Government for depreciation calculation under the Income-tax Act, 1961. Citing precedent cases and settled law by the Supreme Court, the court held that government subsidy does not qualify as part of the 'actual cost' of assets. The judgment favored the assessee, aligning with the majority view of High Courts and the apex court's interpretation. en-us Tue, 11 Sep 2007 00:00:00 +0530 Sat, 26 Jul 2008 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4347 The High Court of Himachal Pradesh ruled that the cost of assets should not be reduced by the subsidy received by the assessee from the Government for depreciation calculation under the Income-tax Act, 1961. Citing precedent cases and settled law by the Supreme Court, the court held that government subsidy does not qualify as part of the 'actual cost' of assets. The judgment favored the assessee, aligning with the majority view of High Courts and the apex court's interpretation. Case-Laws Income Tax Tue, 11 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4347