https://www.taxtmi.com/caselaws?id=15846 The High Court determined that the grant received by the assessee should be classified as a capital receipt and allowed for the deduction of the grant amount from the actual cost of the machinery for depreciation purposes. The court upheld the Tribunal's decision, affirming its jurisdiction to consider the grant's impact on calculating depreciation allowance. Consequently, the court ruled in favor of the Revenue, supporting the reduction of the actual cost by the grant amount for depreciation purposes. en-us Thu, 18 Jun 1998 00:00:00 +0530 Sat, 29 Aug 2009 15:02:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15846 The High Court determined that the grant received by the assessee should be classified as a capital receipt and allowed for the deduction of the grant amount from the actual cost of the machinery for depreciation purposes. The court upheld the Tribunal's decision, affirming its jurisdiction to consider the grant's impact on calculating depreciation allowance. Consequently, the court ruled in favor of the Revenue, supporting the reduction of the actual cost by the grant amount for depreciation purposes. Case-Laws Income Tax Thu, 18 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15846