https://www.taxtmi.com/caselaws?id=24004 The court ruled in favor of the assessee, holding that the subsidy received should not be deducted from the cost of assets for development rebate and depreciation purposes under section 80J of the Income-tax Act. Additionally, the court found that the assessee's business involved production, entitling them to exemption under section 80HH. The decision favored the assessee over the Revenue, affirming their eligibility for tax benefits and directing the case to the Income-tax Appellate Tribunal, Cochin Bench for implementation. en-us Thu, 16 Mar 1989 00:00:00 +0530 Fri, 15 Jan 2010 17:29:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24004 The court ruled in favor of the assessee, holding that the subsidy received should not be deducted from the cost of assets for development rebate and depreciation purposes under section 80J of the Income-tax Act. Additionally, the court found that the assessee's business involved production, entitling them to exemption under section 80HH. The decision favored the assessee over the Revenue, affirming their eligibility for tax benefits and directing the case to the Income-tax Appellate Tribunal, Cochin Bench for implementation. Case-Laws Income Tax Thu, 16 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24004