https://www.taxtmi.com/caselaws?id=12219 The case involved a dispute over the interpretation of "actual cost" under section 43(1) of the Income-tax Act for claiming depreciation. The High Court ruled in favor of the Revenue, stating that the subsidy received by a cooperative sugar mill should be deducted from the total construction cost to determine the "actual cost" for depreciation purposes. Additionally, the court affirmed the Commissioner's jurisdiction under section 263 to revise assessment orders, clarifying that the Commissioner's authority extends to matters not considered in previous appeals. en-us Mon, 12 Aug 2002 00:00:00 +0530 Sat, 20 Feb 2010 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12219 The case involved a dispute over the interpretation of "actual cost" under section 43(1) of the Income-tax Act for claiming depreciation. The High Court ruled in favor of the Revenue, stating that the subsidy received by a cooperative sugar mill should be deducted from the total construction cost to determine the "actual cost" for depreciation purposes. Additionally, the court affirmed the Commissioner's jurisdiction under section 263 to revise assessment orders, clarifying that the Commissioner's authority extends to matters not considered in previous appeals. Case-Laws Income Tax Mon, 12 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12219