https://www.taxtmi.com/caselaws?id=23776 The High Court ruled in favor of the assessee on both issues presented in the case. Regarding the deductibility of a capital subsidy for depreciation under section 43(1) of the Income-tax Act, the Court affirmed the Tribunal's decision that the subsidy amount should not be deducted from the cost of assets for depreciation purposes. Additionally, the Court upheld the Tribunal's decision to allow weighted deduction under section 35B on the commission paid to Indian agents, rejecting the Revenue's argument of insufficient evidence. The parties were directed to bear their own costs in the reference. en-us Sat, 11 Mar 1989 00:00:00 +0530 Thu, 14 Jan 2010 11:50:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23776 The High Court ruled in favor of the assessee on both issues presented in the case. Regarding the deductibility of a capital subsidy for depreciation under section 43(1) of the Income-tax Act, the Court affirmed the Tribunal's decision that the subsidy amount should not be deducted from the cost of assets for depreciation purposes. Additionally, the Court upheld the Tribunal's decision to allow weighted deduction under section 35B on the commission paid to Indian agents, rejecting the Revenue's argument of insufficient evidence. The parties were directed to bear their own costs in the reference. Case-Laws Income Tax Sat, 11 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23776