https://www.taxtmi.com/caselaws?id=345840 The Appellate Tribunal allowed the appeal, ruling in favor of the assessee, and directed the Assessing Officer to adjust the depreciation calculation. The Tribunal held that the subsidy received, aimed at encouraging industrial development and not tied to specific fixed assets, should not be deducted from the actual cost of assets for depreciation purposes. This decision clarified the application of Explanation 10 of Section 43(1) in cases involving subsidies for industrial development. en-us Thu, 13 Apr 2017 00:00:00 +0530 Fri, 28 Jul 2017 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345840 The Appellate Tribunal allowed the appeal, ruling in favor of the assessee, and directed the Assessing Officer to adjust the depreciation calculation. The Tribunal held that the subsidy received, aimed at encouraging industrial development and not tied to specific fixed assets, should not be deducted from the actual cost of assets for depreciation purposes. This decision clarified the application of Explanation 10 of Section 43(1) in cases involving subsidies for industrial development. Case-Laws Income Tax Thu, 13 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345840