1990 (1) TMI 35

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..... cted cases. These petitions are filed by the Revenue under section 261 of the Income-tax Act, 1961, praying for the issue of a certificate to appeal to the Supreme Court against the common judgment rendered by this court in I. T. R. Nos. 152 and 153 of 1985 dated June 21, 1989. The respondent is an assessee to income-tax. The respondent/ assessee-company received substantial subsidy during the r .....

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..... A Bench of this court, in delivering the judgment in I. T. R. No. 310 of 1982 dated March 16, 1989 (CIT v. Relish Foods [1989] 180 ITR 454 ), held that the subsidy received from the Central Government cannot be deducted from the cost of the assets for the purpose of allowing depreciation, development rebate and deduction under section 80J of the Incometax Act. The Revenue filed an application, .....

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..... n, development rebate, etc. This decision was brought to our notice to stress the fact that the aforesaid decision was not available when this court rendered its decision in 1. T. R. No. 310 of 1982 ([1989] 180 ITR 454) and also the fact that, on the question of law that arises for consideration, there are conflicting views expressed by different High Courts. In view of the above, we are satisfi .....

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