https://www.taxtmi.com/caselaws?id=12238 A general subsidy for setting up an industry in a backward area was not required to be deducted from the cost of plant and machinery for depreciation, investment allowance or capital employed under section 80J, so the issue was decided in favour of the assessee. By contrast, relief under section 80HH had to be computed only after first giving effect to unabsorbed losses and depreciation, because income of the relevant nature must be determined under the Act before Chapter VI-A deduction, so this issue was decided in favour of the Revenue. The reference thus produced a mixed outcome. en-us Mon, 24 Sep 2001 00:00:00 +0530 Sat, 20 Feb 2010 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12238 A general subsidy for setting up an industry in a backward area was not required to be deducted from the cost of plant and machinery for depreciation, investment allowance or capital employed under section 80J, so the issue was decided in favour of the assessee. By contrast, relief under section 80HH had to be computed only after first giving effect to unabsorbed losses and depreciation, because income of the relevant nature must be determined under the Act before Chapter VI-A deduction, so this issue was decided in favour of the Revenue. The reference thus produced a mixed outcome. Case-Laws Income Tax Mon, 24 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12238