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2001 (10) TMI 21 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the amount of Central Government subsidy is not deductible from the money cost to the assessee of its plant, machinery and building while computing the original cost thereof under section 43(1) of the Income-tax Act, 1961, for the purpose of allowing depreciation or investment allowance, etc.?" - "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that deduction under section 80HH of the Income-tax Act, 1961, should be allowed on the gross income before deducting depreciation and investment allowance?" - Thus the second question decided and answered in favour of the Department and against the assessee. Thus, question No. 1 is decided in favour of the assessee and against the Department is answered. The second question is answered in favour of the Department and against the assessee.
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