https://www.taxtmi.com/caselaws?id=19599 The court ruled in favor of the assessee, determining that the subsidy granted by the Government was not a loan but a grant aimed at fostering industrial development in underdeveloped regions. The court held that the subsidy should be included in the capital employed for computing deductions under section 80J, contrary to the Tribunal's view. The court emphasized the subsidy's purpose to attract investment in backward areas and clarified that it was not akin to borrowed money or debts due. en-us Thu, 21 Jul 1994 00:00:00 +0530 Sat, 07 Nov 2009 12:22:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19599 The court ruled in favor of the assessee, determining that the subsidy granted by the Government was not a loan but a grant aimed at fostering industrial development in underdeveloped regions. The court held that the subsidy should be included in the capital employed for computing deductions under section 80J, contrary to the Tribunal's view. The court emphasized the subsidy's purpose to attract investment in backward areas and clarified that it was not akin to borrowed money or debts due. Case-Laws Income Tax Thu, 21 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19599