Depreciation Disallowance: Subsidy Impact on Fixed Assets Cost and Accrual Timing for Assessee Benefits.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance on depreciation – reduction of subsidy amount from the cost of fixed assets - the accrual of receipts was in favour of the assessee only in the year in which all the terms and conditions of the scheme were duly complied and the loans to the banks were liquidated - to be adjusted in the year of actual receipt only - AT....