https://www.taxtmi.com/caselaws?id=21547 Central Government subsidy received to encourage entrepreneurs in backward areas was not treated as a reduction from the actual cost of plant, machinery and building under section 43(1) of the Income-tax Act. Applying the earlier principle that such subsidy is not part of the asset cost, the amount could not be deducted from original cost for computing depreciation or investment allowance. The issue was answered against the Revenue and in favour of the assessee. en-us Fri, 22 Nov 1991 00:00:00 +0530 Wed, 25 Nov 2009 12:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21547 Central Government subsidy received to encourage entrepreneurs in backward areas was not treated as a reduction from the actual cost of plant, machinery and building under section 43(1) of the Income-tax Act. Applying the earlier principle that such subsidy is not part of the asset cost, the amount could not be deducted from original cost for computing depreciation or investment allowance. The issue was answered against the Revenue and in favour of the assessee. Case-Laws Income Tax Fri, 22 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21547