https://www.taxtmi.com/caselaws?id=19608 Central subsidy received under an incentive scheme was treated as governed by the scheme terms and the Income-tax Act, and the settled principle applied to similar subsidies was that such receipt did not reduce the actual cost of assets for depreciation purposes. As the proposed rectification notices were founded on that incorrect reduction of actual cost, they could not be sustained and were held invalid. en-us Wed, 23 Mar 1994 00:00:00 +0530 Sat, 07 Nov 2009 13:01:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19608 Central subsidy received under an incentive scheme was treated as governed by the scheme terms and the Income-tax Act, and the settled principle applied to similar subsidies was that such receipt did not reduce the actual cost of assets for depreciation purposes. As the proposed rectification notices were founded on that incorrect reduction of actual cost, they could not be sustained and were held invalid. Case-Laws Income Tax Wed, 23 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19608