Subsidy for Industrial Unit in Maharashtra's Backward Regions Examined for Taxability Under Explanation 10, Section 43(1) IT Act.

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....Taxability of subsidy - adjustment in capital assets - given to the assessee to establish the industrial unit in backward regions of the Maharashtra State - from language of the Explanation 10 to section 43(1), it is manifest that it is attracted only when the object of the Scheme is to subsidize the cost of an asset and not otherwise.....