https://www.taxtmi.com/caselaws?id=24589 The High Court of Madhya Pradesh held that the capital subsidy received by the assessee should not reduce the cost of fixed assets for depreciation calculation under section 43(1) of the Income-tax Act, 1961. This decision favored the assessee, a private limited company engaged in oil extraction, in a dispute arising from subsidy received from the M.P. Financial Corporation. The Court's ruling aligned with a previous decision and rejected the Revenue's argument, directing each party to bear their own costs. en-us Thu, 04 Aug 1988 00:00:00 +0530 Thu, 21 Jan 2010 10:42:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24589 The High Court of Madhya Pradesh held that the capital subsidy received by the assessee should not reduce the cost of fixed assets for depreciation calculation under section 43(1) of the Income-tax Act, 1961. This decision favored the assessee, a private limited company engaged in oil extraction, in a dispute arising from subsidy received from the M.P. Financial Corporation. The Court's ruling aligned with a previous decision and rejected the Revenue's argument, directing each party to bear their own costs. Case-Laws Income Tax Thu, 04 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24589