https://www.taxtmi.com/caselaws?id=420154 The ITAT dismissed the Revenue's appeal and allowed the assessee's appeal, affirming that the government grants were to be treated as corpus funds, the expenditure for capital assets should be verified and allowed if incurred from income, and the depreciation on assets was allowable for AY 2014-15. en-us Fri, 25 Mar 2022 00:00:00 +0530 Sat, 26 Mar 2022 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420154 The ITAT dismissed the Revenue's appeal and allowed the assessee's appeal, affirming that the government grants were to be treated as corpus funds, the expenditure for capital assets should be verified and allowed if incurred from income, and the depreciation on assets was allowable for AY 2014-15. Case-Laws Income Tax Fri, 25 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420154