https://www.taxtmi.com/caselaws?id=12083 The High Court upheld the Income-tax Appellate Tribunal's decision that the depreciation rate on a generator should be 15% instead of 10%, emphasizing it was a debatable issue. Additionally, the Court ruled in favor of the assessee regarding the deductibility of a subsidy from the generator's cost for depreciation calculation, aligning with the Supreme Court's interpretation that the subsidy did not qualify for deduction under the Income-tax Act. The Court's decision favored the assessee on both issues, highlighting the importance of proper interpretation and application of tax laws in determining depreciation rates and subsidy deductibility. en-us Thu, 16 Jan 2003 00:00:00 +0530 Tue, 16 Feb 2010 19:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12083 The High Court upheld the Income-tax Appellate Tribunal's decision that the depreciation rate on a generator should be 15% instead of 10%, emphasizing it was a debatable issue. Additionally, the Court ruled in favor of the assessee regarding the deductibility of a subsidy from the generator's cost for depreciation calculation, aligning with the Supreme Court's interpretation that the subsidy did not qualify for deduction under the Income-tax Act. The Court's decision favored the assessee on both issues, highlighting the importance of proper interpretation and application of tax laws in determining depreciation rates and subsidy deductibility. Case-Laws Income Tax Thu, 16 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12083