https://www.taxtmi.com/caselaws?id=387884 The ITAT Chandigarh set aside the issue of disallowance of depreciation and additional depreciation claimed on a capital subsidy for fresh adjudication by the Assessing Officer. Regarding the calculation of book profits under section 115JB, the ITAT ruled in favor of the Assessee, stating that the capital subsidy should not be included in the book profit calculation based on the treatment of the subsidy as a non-taxable capital receipt. The appeal was partly allowed in favor of the Assessee for statistical purposes. en-us Fri, 09 Aug 2019 00:00:00 +0530 Mon, 04 Nov 2019 06:35:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387884 The ITAT Chandigarh set aside the issue of disallowance of depreciation and additional depreciation claimed on a capital subsidy for fresh adjudication by the Assessing Officer. Regarding the calculation of book profits under section 115JB, the ITAT ruled in favor of the Assessee, stating that the capital subsidy should not be included in the book profit calculation based on the treatment of the subsidy as a non-taxable capital receipt. The appeal was partly allowed in favor of the Assessee for statistical purposes. Case-Laws Income Tax Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387884