https://www.taxtmi.com/caselaws?id=471906 Capital grants, subsidies and consumer contributions that meet the cost of depreciable assets reduce actual cost under Explanation 10 to section 43(1); where not directly linked to a particular asset, they must be apportioned among relevant assets before applying depreciation rates. Transfers from a depreciable block are computed under the special mechanism in section 50 and may result in deemed short-term capital gains. Interest on staff loans and business-related balances requires evidence of a sufficient business nexus to qualify as business income rather than income from other sources. Interest on post-1 April 2005 loans falls outside a waiver limited to specified government loans outstanding on that date. Wheeling-charge refunds require verification of earlier collection and income recognition, while inaccurate fringe-benefit particulars may attract penalty. en-us Fri, 18 Aug 2023 00:00:00 +0530 Wed, 23 Sep 2026 10:22:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471906 Capital grants, subsidies and consumer contributions that meet the cost of depreciable assets reduce actual cost under Explanation 10 to section 43(1); where not directly linked to a particular asset, they must be apportioned among relevant assets before applying depreciation rates. Transfers from a depreciable block are computed under the special mechanism in section 50 and may result in deemed short-term capital gains. Interest on staff loans and business-related balances requires evidence of a sufficient business nexus to qualify as business income rather than income from other sources. Interest on post-1 April 2005 loans falls outside a waiver limited to specified government loans outstanding on that date. Wheeling-charge refunds require verification of earlier collection and income recognition, while inaccurate fringe-benefit particulars may attract penalty. Case-Laws Income Tax Fri, 18 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471906