Incentive in the form of subsidy cannot be considered as a ...

Incentives as subsidies aren't payments for asset costs, excluded from Explanation 10, Section 43(1), Income Tax Act.

April 11, 2017

Case Laws Income Tax AT

Incentive in the form of subsidy cannot be considered as a payment directly or indirectly to meet any portion of the actual cost and thus it falls outside the ambit of Explanation 10 to Section 43(1) of the Act - For the purpose of computing depreciation allowable to the assessee, the subsidy amount cannot be reduced from the cost of the capital asset - AT

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Incentive in the form of subsidy cannot be considered as a ...

Incentives as subsidies aren't payments for asset costs, excluded from Explanation 10, Section 43(1), Income Tax Act.

April 11, 2017

Case Laws Income Tax AT

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