https://www.taxtmi.com/caselaws?id=22123 A government subsidy granted as an incentive for setting up an in a backward area does not reduce the actual cost of the assets acquired, because it is not a payment made towards any specific asset and has no nexus with the asset cost. As a result, the subsidy is not deductible from actual cost for depreciation, investment allowance, development rebate, or similar allowances, and the assessee remains entitled to those deductions without such reduction. en-us Wed, 09 Jan 1991 00:00:00 +0530 Mon, 07 Dec 2009 12:09:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22123 A government subsidy granted as an incentive for setting up an in a backward area does not reduce the actual cost of the assets acquired, because it is not a payment made towards any specific asset and has no nexus with the asset cost. As a result, the subsidy is not deductible from actual cost for depreciation, investment allowance, development rebate, or similar allowances, and the assessee remains entitled to those deductions without such reduction. Case-Laws Income Tax Wed, 09 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22123