https://www.taxtmi.com/caselaws?id=13885 Contributions to the Molasses Storage Fund were treated as diversion of income at source, so they were not assessable as the assessee's income. The subsidy issue was also governed by earlier authority: where the subsidy was not intended to reduce the cost of machinery, it was not deducted from actual cost for computing depreciation or investment allowance. The document applies those settled principles to both questions and records that the reference was answered in favour of the assessee. en-us Wed, 25 Apr 2001 00:00:00 +0530 Sat, 04 Jul 2009 16:43:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13885 Contributions to the Molasses Storage Fund were treated as diversion of income at source, so they were not assessable as the assessee's income. The subsidy issue was also governed by earlier authority: where the subsidy was not intended to reduce the cost of machinery, it was not deducted from actual cost for computing depreciation or investment allowance. The document applies those settled principles to both questions and records that the reference was answered in favour of the assessee. Case-Laws Income Tax Wed, 25 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13885