https://www.taxtmi.com/caselaws?id=23513 Conflicting High Court views on whether Central Government subsidy reduces the actual cost of assets for depreciation, development rebate and related tax benefits led the Kerala HC to treat the question as fit for Supreme Court consideration. The court noted its earlier view that such subsidy is not deductible from asset cost, while the Punjab and Haryana High Court had taken the opposite view. Because the issue involved substantial tax interest and required resolution of the conflict, the court granted a certificate to appeal under section 261 of the Income-tax Act, 1961. en-us Thu, 25 Jan 1990 00:00:00 +0530 Mon, 21 Dec 2009 15:27:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23513 Conflicting High Court views on whether Central Government subsidy reduces the actual cost of assets for depreciation, development rebate and related tax benefits led the Kerala HC to treat the question as fit for Supreme Court consideration. The court noted its earlier view that such subsidy is not deductible from asset cost, while the Punjab and Haryana High Court had taken the opposite view. Because the issue involved substantial tax interest and required resolution of the conflict, the court granted a certificate to appeal under section 261 of the Income-tax Act, 1961. Case-Laws Income Tax Thu, 25 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23513