1995 (1) TMI 400 - HC - Income Tax

Summary

The High Court of Rajasthan dismissed the Reference Application under section 256(2) of the IT Act, 1956 as the issue regarding deducting subsidy from the cost of assets for depreciation was settled by the Supreme Court in CIT vs. P.J. Chemicals Ltd. The Court found no need to refer the question to this Court. (Case Citation: 1995 (1) TMI 400 - RAJASTHAN HIGH COURT)