https://www.taxtmi.com/caselaws?id=185530 Subsidy was held not to be deductible from the cost of assets while computing depreciation and investment allowance, because the Supreme Court had already settled that principle. In light of that binding precedent, the High Court found no useful purpose in directing a reference on the same question. The issue was therefore answered against the Revenue and in favour of the assessee, and the reference application was dismissed. en-us Mon, 16 Jan 1995 00:00:00 +0530 Wed, 17 Aug 2016 16:17:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185530 Subsidy was held not to be deductible from the cost of assets while computing depreciation and investment allowance, because the Supreme Court had already settled that principle. In light of that binding precedent, the High Court found no useful purpose in directing a reference on the same question. The issue was therefore answered against the Revenue and in favour of the assessee, and the reference application was dismissed. Case-Laws Income Tax Mon, 16 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185530