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Deputy Commissioner of Income Tax, Cir-4 (2) , Mumbai Versus Harinagar Sugar Mills Ltd.

2016 (4) TMI 1140 - ITAT MUMBAI

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 Exci .....

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R. BASKARAN, AM AND SHRI PAWAN SINGH, JM Appellant by : Ms. Radha Katyal Narang Respondent by : Shri Jayesh Desai O R D E R Per Pawan Singh, JM: The present appeal is filed by the Revenue agai .....

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tion 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 .....

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ent is not a revenue receipt". 3. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in holding that in case of any adjustments made by the assessee while calculating book profit u/s.115JB, are not foun .....

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ed by the decision of Co-ordinate Bench of this Tribunal in the assessee s own case for A.Y. 2008-09 and 2009-10, in ITA No. 772 of 2012 and ITA No. 4474 of 2012 respectively. 3. In ITA No. 4474/M/2012, it was held that Capital subsidy is .....

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