https://www.taxtmi.com/caselaws?id=9590 The court held that the subsidy received under the Central Government's Subsidy Scheme should not reduce the actual cost for depreciation calculation. Additionally, the deduction under section 35CC(1) could not be denied for submitting the statement of expenditure during assessment proceedings instead of with the return. Both issues were decided in favor of the assessee, following precedents and interpretations of relevant provisions. The court ruled against the Revenue in both instances, allowing the subsidy and permitting the filing of the statement during assessment proceedings. en-us Wed, 13 Jul 2005 00:00:00 +0530 Sat, 27 Jun 2009 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9590 The court held that the subsidy received under the Central Government's Subsidy Scheme should not reduce the actual cost for depreciation calculation. Additionally, the deduction under section 35CC(1) could not be denied for submitting the statement of expenditure during assessment proceedings instead of with the return. Both issues were decided in favor of the assessee, following precedents and interpretations of relevant provisions. The court ruled against the Revenue in both instances, allowing the subsidy and permitting the filing of the statement during assessment proceedings. Case-Laws Income Tax Wed, 13 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9590