https://www.taxtmi.com/caselaws?id=25581 The Andhra Pradesh High Court ruled in favor of the assessees, holding that subsidies received under specific schemes should not be deducted from the actual cost of fixed assets for depreciation purposes. The Court concluded that the subsidies were intended to promote regional development, not specifically to meet the cost of fixed assets. Therefore, the subsidies could not be considered as reducing the actual cost of the assets. The Tribunal's decision was upheld, favoring the assessees over the Revenue in the interpretation of "actual cost" under the Income-tax Act, 1961. en-us Fri, 17 Oct 1986 00:00:00 +0530 Fri, 29 Jan 2010 15:32:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25581 The Andhra Pradesh High Court ruled in favor of the assessees, holding that subsidies received under specific schemes should not be deducted from the actual cost of fixed assets for depreciation purposes. The Court concluded that the subsidies were intended to promote regional development, not specifically to meet the cost of fixed assets. Therefore, the subsidies could not be considered as reducing the actual cost of the assets. The Tribunal's decision was upheld, favoring the assessees over the Revenue in the interpretation of "actual cost" under the Income-tax Act, 1961. Case-Laws Income Tax Fri, 17 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25581