https://www.taxtmi.com/caselaws?id=23764 Capital subsidy received for acquiring fixed assets was held not to be deductible from the actual cost of those assets for depreciation under the Income-tax Act, 1961, unless the governing statutory scheme specifically requires such reduction. Applying binding precedent, the court affirmed that the subsidy did not reduce the asset base for computing admissible depreciation. The referred question was answered in the negative and against the Revenue, and the Tribunal was held correct in excluding no part of the subsidy from the actual cost of the fixed assets. en-us Fri, 10 Mar 1989 00:00:00 +0530 Fri, 25 Dec 2009 18:17:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23764 Capital subsidy received for acquiring fixed assets was held not to be deductible from the actual cost of those assets for depreciation under the Income-tax Act, 1961, unless the governing statutory scheme specifically requires such reduction. Applying binding precedent, the court affirmed that the subsidy did not reduce the asset base for computing admissible depreciation. The referred question was answered in the negative and against the Revenue, and the Tribunal was held correct in excluding no part of the subsidy from the actual cost of the fixed assets. Case-Laws Income Tax Fri, 10 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23764