https://www.taxtmi.com/caselaws?id=56579 The Appellate Tribunal upheld the Income Tax Officer's decision to deduct the subsidy received for a generator from the 'actual cost' for depreciation and development rebate purposes. The Tribunal ruled that the subsidy, even if received after installation, should reduce the actual cost. Additionally, the Tribunal allowed the development rebate based on both the current year's reserve creation and the carried forward reserve from a prior year, contrary to the Commissioner (Appeals) decision. Consequently, both appeals were decided in favor of the department. en-us Wed, 02 Mar 1983 00:00:00 +0530 Sat, 04 Dec 2010 16:28:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56579 The Appellate Tribunal upheld the Income Tax Officer's decision to deduct the subsidy received for a generator from the 'actual cost' for depreciation and development rebate purposes. The Tribunal ruled that the subsidy, even if received after installation, should reduce the actual cost. Additionally, the Tribunal allowed the development rebate based on both the current year's reserve creation and the carried forward reserve from a prior year, contrary to the Commissioner (Appeals) decision. Consequently, both appeals were decided in favor of the department. Case-Laws Income Tax Wed, 02 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56579