1989 (3) TMI 68 - HC - Income Tax

Summary

The High Court of Madhya Pradesh ruled that the capital subsidy should not be deducted from the cost of fixed assets for the purpose of allowing depreciation. The decision was based on a previous court ruling and the Tribunal's judgment was upheld. The court's answer to the referred question was in favor of the assessee, and each party was ordered to bear their own costs.