1999 (10) TMI 102 - AT - Income Tax

Summary

The ITAT Jodhpur heard a Revenue's appeal for the assessment year 1989-90 regarding the deduction of central subsidy from the WDV for claiming depreciation. The Department argued against the decision in favor of the assessee, citing conflicting judgments. The ITAT agreed with the assessee's counsel, upholding the decision to not deduct the subsidy from the WDV for depreciation. The appeal by the Revenue was dismissed.