Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2007 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (9) TMI 215 - HIMACHAL PRADESH HIGH COURTDepreciation – actual cost of asset – in view of decision of apex court in CIT v. P. J. Chemicals Ltd., reference made to this court is answered in favour of the assessee and against the Revenue – held that Tribunal was right in law in holding that the cost of assets shall not be reduced by the amount of subsidy received by the assessee from the Government for the purpose of working out depreciation u/s 32 read with section 43(1) of the Income-tax Act, 1961
|