https://www.taxtmi.com/caselaws?id=16324 Central subsidy was not required to be reduced from the cost of assets for depreciation and investment allowance, the issue having been treated as settled by binding Supreme Court authority in favour of the assessee. Capital expenditure on land and building used for scientific research was deductible under section 35 even though legal ownership vested later, because the decisive factor was incurring the expenditure in the relevant previous year; possession under an agreement satisfying part performance was accepted, and the declaratory Explanation 2 applied to the assessment year. Both points were resolved against the Revenue and in favour of the assessee. en-us Tue, 17 Jun 1997 00:00:00 +0530 Mon, 07 Sep 2009 10:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16324 Central subsidy was not required to be reduced from the cost of assets for depreciation and investment allowance, the issue having been treated as settled by binding Supreme Court authority in favour of the assessee. Capital expenditure on land and building used for scientific research was deductible under section 35 even though legal ownership vested later, because the decisive factor was incurring the expenditure in the relevant previous year; possession under an agreement satisfying part performance was accepted, and the declaratory Explanation 2 applied to the assessment year. Both points were resolved against the Revenue and in favour of the assessee. Case-Laws Income Tax Tue, 17 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16324