https://www.taxtmi.com/caselaws?id=440992 Sales tax subsidy granted to promote industrial development in backward areas was treated as capital in nature but not as payment towards asset cost, so it did not reduce the actual cost or written down value for depreciation purposes. Deduction under section 10B was not cut down on the Assessing Officer's expense allocation because the assessee maintained separate books, audited accounts, distinct assets, and unit-wise allocation that was found more appropriate. Computer accessories and peripherals were held eligible for 60% depreciation as part of the computer system. Loan processing charges were held to be revenue expenditure because they were incurred to obtain business finance and did not create an enduring asset or advantage. en-us Wed, 26 Jul 2023 00:00:00 +0530 Sat, 29 Jul 2023 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440992 Sales tax subsidy granted to promote industrial development in backward areas was treated as capital in nature but not as payment towards asset cost, so it did not reduce the actual cost or written down value for depreciation purposes. Deduction under section 10B was not cut down on the Assessing Officer's expense allocation because the assessee maintained separate books, audited accounts, distinct assets, and unit-wise allocation that was found more appropriate. Computer accessories and peripherals were held eligible for 60% depreciation as part of the computer system. Loan processing charges were held to be revenue expenditure because they were incurred to obtain business finance and did not create an enduring asset or advantage. Case-Laws Income Tax Wed, 26 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440992