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2016 (11) TMI 1245 - AT - Income TaxReduction of amount of subsidy received from the block of assets for claiming depreciation - Held that:- We find that the ld. CIT(A) has given a finding that assessee had received subsidy from State Government under Capital Incentive Scheme on the basis of cost of capital asset acquired by the assessee and it was relatable to the cost of asset and was therefore required to be reduced from the cost of asset as per the provisions of Explanation-10 to section 43 of the Act. The ld. CIT(A) has further relied upon the decision of Pune Bench of the Tribunal in the case of Alfa Laval India Ltd. vs. DCIT, (2007 (2) TMI 277 - ITAT PUNE-B ) and had held that the decisions relied by the assessee in support her contention were not applicable to the present fact. Before us, no material has been placed on record by the assessee to controvert the findings of ld. CIT(A). - Decided against assessee.
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