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2016 (4) TMI 1140 - ITAT MUMBAI

2016 (4) TMI 1140 - ITAT MUMBAI - TMI - Depreciation computation - capital subsidy reduction from the cost of machinery - Held that:- Capital subsidy is not required to be deducted from the cost of plant and machinery - Revenue v/s capital receipt - Held that:- Subsidy received as Excise duty reimbursement cannot be taken as revenue receipt - MAT computation - Held that:- AO is not entitled to add the above said two items to the book profit computed u/s 115JB of the Act. - I.T.A. No. 222 .....

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the Ld.CIT(A) erred in deleting the addition on account of excess depreciation claimed by the assessee". (b) "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in holding that reimbursement of subsidy which has been received on account of increasing installed capacity does not reduce the actual cost of plant and machinery" . 2. On the facts and in the circumstances of the case and in law, the Ld.CIT(A) erred in holding that su .....

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