1985 (1) TMI 128 - AT - Income Tax

Summary

The appeal by the revenue and cross objection by the assessee were against the AAC's order for the asst. yr. 1982-83. The ITO deducted subsidy received by the assessee from the value of written down value, but AAC allowed the claim citing a Tribunal decision. The Tribunal upheld AAC's decision, stating the subsidy was not directly related to the assets. The cross objection supporting AAC's order was deemed allowed.