https://www.taxtmi.com/caselaws?id=14975 For deduction under section 80HH, profits of the industrial undertaking must be computed after setting off losses from other units, because section 80AB governs the manner of deduction computation. By contrast, SIPCOT subsidy was not required to be reduced from the actual cost of assets under section 43(1) for depreciation, investment allowance, or section 80J relief, as the controlling principle treats such subsidy as not diminishing capital cost unless it is meant to meet the asset cost. The note therefore distinguishes deduction computation from capital cost adjustment in income-tax calculations. en-us Tue, 28 Apr 1998 00:00:00 +0530 Mon, 27 Jul 2009 13:45:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14975 For deduction under section 80HH, profits of the industrial undertaking must be computed after setting off losses from other units, because section 80AB governs the manner of deduction computation. By contrast, SIPCOT subsidy was not required to be reduced from the actual cost of assets under section 43(1) for depreciation, investment allowance, or section 80J relief, as the controlling principle treats such subsidy as not diminishing capital cost unless it is meant to meet the asset cost. The note therefore distinguishes deduction computation from capital cost adjustment in income-tax calculations. Case-Laws Income Tax Tue, 28 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14975