https://www.taxtmi.com/caselaws?id=57061 A subsidy directly linked to the cost of assets must be reduced from actual cost when computing depreciation and investment allowance. The Tribunal applied binding jurisdictional precedent and treated this adjustment as mandatory. An addition for alleged unaccounted sales arising from shortage in rice bran extraction was deleted because the shortage was plausibly explained by moisture, storage, and handling losses, and the explanation required proper verification rather than rejection on suspicion. An addition for understated closing stock of hexane was upheld where the assessee accepted that the bank stock statement showed the actual position and the book figure was lower. en-us Fri, 09 Jan 2004 00:00:00 +0530 Wed, 08 Dec 2010 11:59:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57061 A subsidy directly linked to the cost of assets must be reduced from actual cost when computing depreciation and investment allowance. The Tribunal applied binding jurisdictional precedent and treated this adjustment as mandatory. An addition for alleged unaccounted sales arising from shortage in rice bran extraction was deleted because the shortage was plausibly explained by moisture, storage, and handling losses, and the explanation required proper verification rather than rejection on suspicion. An addition for understated closing stock of hexane was upheld where the assessee accepted that the bank stock statement showed the actual position and the book figure was lower. Case-Laws Income Tax Fri, 09 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57061