https://www.taxtmi.com/caselaws?id=304786 The Appellate Tribunal ITAT Agra dismissed the Revenue's appeal in ITA No.236/Agr/2010, upholding the decision of the ld. CIT(A) to delete the addition of capital subsidy under section 43(1) of the I.T. Act. The Tribunal agreed with the CIT(A) that the capital subsidy need not be reduced from the cost of fixed assets for depreciation calculation, citing the Supreme Court precedent in CIT vs. P.J. Chemicals (1994) 210 ITR 830. The Tribunal did not address the general grounds raised by the Revenue. en-us Fri, 25 Nov 2011 00:00:00 +0530 Sat, 22 Oct 2022 13:37:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304786 The Appellate Tribunal ITAT Agra dismissed the Revenue's appeal in ITA No.236/Agr/2010, upholding the decision of the ld. CIT(A) to delete the addition of capital subsidy under section 43(1) of the I.T. Act. The Tribunal agreed with the CIT(A) that the capital subsidy need not be reduced from the cost of fixed assets for depreciation calculation, citing the Supreme Court precedent in CIT vs. P.J. Chemicals (1994) 210 ITR 830. The Tribunal did not address the general grounds raised by the Revenue. Case-Laws Income Tax Fri, 25 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304786