https://www.taxtmi.com/caselaws?id=19125 The High Court ruled that the surtax paid by the assessee was not allowable as a deduction under the Income-tax Act, 1961, based on precedent. Additionally, the court held that the conditional subsidy received from the Rajasthan Government did not constitute part of the 'actual cost' for depreciation deduction, denying the assessee's claim for depreciation on the subsidy amount. The court emphasized the importance of considering subsidies in determining actual cost for depreciation purposes and relied on legal interpretations and past decisions to support its ruling against the assessee. en-us Wed, 18 Jan 1995 00:00:00 +0530 Wed, 04 Nov 2009 11:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19125 The High Court ruled that the surtax paid by the assessee was not allowable as a deduction under the Income-tax Act, 1961, based on precedent. Additionally, the court held that the conditional subsidy received from the Rajasthan Government did not constitute part of the 'actual cost' for depreciation deduction, denying the assessee's claim for depreciation on the subsidy amount. The court emphasized the importance of considering subsidies in determining actual cost for depreciation purposes and relied on legal interpretations and past decisions to support its ruling against the assessee. Case-Laws Income Tax Wed, 18 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19125