https://www.taxtmi.com/caselaws?id=23512 A Central Government subsidy was held not to reduce the actual cost of assets for computing depreciation, development rebate, and deduction under section 80J of the Income-tax Act, 1961. The earlier binding view on the same point was followed, and the Tribunal's conclusion that the subsidy could not be deducted from asset cost was upheld. The operative principle was that the subsidy did not form a basis for lowering actual cost in these computations, so the issue was answered against the Revenue and in favour of the assessee. en-us Wed, 21 Jun 1989 00:00:00 +0530 Mon, 21 Dec 2009 15:26:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23512 A Central Government subsidy was held not to reduce the actual cost of assets for computing depreciation, development rebate, and deduction under section 80J of the Income-tax Act, 1961. The earlier binding view on the same point was followed, and the Tribunal's conclusion that the subsidy could not be deducted from asset cost was upheld. The operative principle was that the subsidy did not form a basis for lowering actual cost in these computations, so the issue was answered against the Revenue and in favour of the assessee. Case-Laws Income Tax Wed, 21 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23512