https://www.taxtmi.com/caselaws?id=437883 The tribunal ruled in favor of the assessee, directing the Assessing Officer to treat the subsidy received from the Government of India as a capital receipt linked to setting up a new power plant, reducing it from the asset's actual cost for depreciation purposes. Additionally, the tribunal instructed the deletion of disallowances made under section 14A read with Rule 8D for book profit computation under section 115JB of the Income Tax Act, following a precedent established by the ITAT Special Bench. The appeal was partly allowed, with the judgment delivered on 10th May 2023 in Chennai. en-us Wed, 10 May 2023 00:00:00 +0530 Wed, 17 May 2023 08:47:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437883 The tribunal ruled in favor of the assessee, directing the Assessing Officer to treat the subsidy received from the Government of India as a capital receipt linked to setting up a new power plant, reducing it from the asset's actual cost for depreciation purposes. Additionally, the tribunal instructed the deletion of disallowances made under section 14A read with Rule 8D for book profit computation under section 115JB of the Income Tax Act, following a precedent established by the ITAT Special Bench. The appeal was partly allowed, with the judgment delivered on 10th May 2023 in Chennai. Case-Laws Income Tax Wed, 10 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437883