Where the grants are received for assets which are outside the block of assets, then what is the treatment of such grants.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s - Income Tax - Manuals - FAQ - Dated:- 31-8-2017 - Manual - ICDS VII : Government Grants Not being related to depreciable assets, these grants have, necessarily, to be recognized as incomes. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ond year of receipt, the prescription in para 6 of ICDS VII should yield to provisions of the Act. It is only when the grant is recognised because there is reasonable certainty of receipt, that the sa .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X