1992 (1) TMI 24 - HC - Income Tax

Summary

The High Court of Karnataka, in a reference by the Revenue for the assessment year 1982-83, confirmed the Appellate Tribunal's decision not to deduct the Central subsidy received from the cost of assets for depreciation, based on a previous judgment. (Case: CIT v. Diamond Dies Manufacturing Corporation Ltd. [1988] 172 ITR 655) (1992 (1) TMI 24 - KARNATAKA High Court)