https://www.taxtmi.com/caselaws?id=428566 The Tribunal upheld the Commissioner's decisions on both issues, ruling in favor of the assessee and dismissing all appeals by the Revenue. The primary issue was the taxability of entertainment tax subsidy received by the assessee, deemed of capital nature and not taxable. The second issue concerned the treatment of the subsidy in relation to depreciation, with the Tribunal agreeing that it should not reduce the cost of acquisition of capital assets, thereby affirming the Commissioner's decision. en-us Fri, 30 Sep 2022 00:00:00 +0530 Mon, 03 Oct 2022 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428566 The Tribunal upheld the Commissioner's decisions on both issues, ruling in favor of the assessee and dismissing all appeals by the Revenue. The primary issue was the taxability of entertainment tax subsidy received by the assessee, deemed of capital nature and not taxable. The second issue concerned the treatment of the subsidy in relation to depreciation, with the Tribunal agreeing that it should not reduce the cost of acquisition of capital assets, thereby affirming the Commissioner's decision. Case-Laws Income Tax Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428566