Whether a grant which is not directly relatable to non-depreciable assets should be concluded as an income (in accordance with section 2(24)(xviii) and therefore be offered to tax or Whether such grant should be proportionately reduced from the cost of the asset in accordance with para 7 of the ICDS VII.

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..... t should be proportionately reduced from the cost of the asset in accordance with para 7 of the ICDS VII. - ICDS VII : Government Grants Income computation and disclosure standards - Income Tax - .....

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..... ntly, operation of para 7 of the ICDS would be confined to depreciable assets only. - FAQ - Frequently Asked Questions, TMI Short Notes , Experts comment, opinion Tax Management India - tax .....

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