https://www.taxtmi.com/caselaws?id=22830 The High Court ruled in favor of the assessee, holding that the subsidy received should not be deducted from the cost of capital assets for depreciation purposes. The Court emphasized that since the subsidy was received after the industrial unit was established and could be used for any business purpose, it should not reduce the cost of the fixed assets. The decision aligned with a previous ruling stating that subsidies received post-acquisition of fixed assets and for other purposes should not impact the depreciation calculation. The Tribunal's decision was affirmed, and the judgment favored the assessee. en-us Tue, 20 Mar 1990 00:00:00 +0530 Mon, 14 Dec 2009 13:45:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22830 The High Court ruled in favor of the assessee, holding that the subsidy received should not be deducted from the cost of capital assets for depreciation purposes. The Court emphasized that since the subsidy was received after the industrial unit was established and could be used for any business purpose, it should not reduce the cost of the fixed assets. The decision aligned with a previous ruling stating that subsidies received post-acquisition of fixed assets and for other purposes should not impact the depreciation calculation. The Tribunal's decision was affirmed, and the judgment favored the assessee. Case-Laws Income Tax Tue, 20 Mar 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22830