https://www.taxtmi.com/caselaws?id=14975 Section 80HH deduction must be computed on profits of the industrial undertaking after setting off losses from other units, as required by section 80AB; the issue was resolved in favour of the Revenue. SIPCOT subsidy not intended to meet the cost of assets does not reduce their actual cost under section 43(1), so depreciation, investment allowance and section 80J relief remain computed without deducting that subsidy; this issue was resolved in favour of the assessee. The reference was therefore partly in favour of the Revenue. 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 Section 80HH deduction must be computed on profits of the industrial undertaking after setting off losses from other units, as required by section 80AB; the issue was resolved in favour of the Revenue. SIPCOT subsidy not intended to meet the cost of assets does not reduce their actual cost under section 43(1), so depreciation, investment allowance and section 80J relief remain computed without deducting that subsidy; this issue was resolved in favour of the assessee. The reference was therefore partly in favour of the Revenue. Case-Laws Income Tax Tue, 28 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14975