https://www.taxtmi.com/caselaws?id=335227 The appellant's appeal against the disallowance of depreciation due to a subsidy received was dismissed. The lower authorities, supported by legal provisions and precedents, held that the subsidy should be deducted from the cost of assets for claiming depreciation, as per Explanation-10 to section 43(1). The appellant's arguments were considered insufficient to overturn this decision, emphasizing the importance of accurately accounting for subsidies in relation to asset costs for depreciation purposes and complying with tax regulations. en-us Fri, 30 Sep 2016 00:00:00 +0530 Mon, 28 Nov 2016 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335227 The appellant's appeal against the disallowance of depreciation due to a subsidy received was dismissed. The lower authorities, supported by legal provisions and precedents, held that the subsidy should be deducted from the cost of assets for claiming depreciation, as per Explanation-10 to section 43(1). The appellant's arguments were considered insufficient to overturn this decision, emphasizing the importance of accurately accounting for subsidies in relation to asset costs for depreciation purposes and complying with tax regulations. Case-Laws Income Tax Fri, 30 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335227