1987 (1) TMI 184

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....vt. is to be deducted from the cost of the generator for purposes of depreciation and investment allowance and the consequent effect of such decision on the interest under s. 215. On the issue of subsidy, the Bench has always been following the decision in Pioneer Match Works vs. ITO (1983) 15 TTJ (Mad) 88 : (1983) 3 ITD 714 (Mad) and holding that subsidy is a grant for purposes of industrialisati....