Entertainment Tax Subsidy Cannot Reduce Asset Cost, Not Intended for Specific Assets: Assessing Officer's Argument Rejected.

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....Claim of Depreciation - Determination of cost of Acquistion - Reduction of amount of entertainment tax subsidy - As entertainment tax subsidy granted by the State Government is not for the purpose of utilizing on any particular or specified assets. That being the factual position emerging on record, the reasoning of the assessing officer that such subsidy would go to reduce the cost of assets is unacceptable. - AT....