Wednesday, April 3, 2019

Subsidy granted for setting up a new industry couldn't be reduced from actual cost of plant & machinery

IT: Where assessee was granted Government subsidy for purpose of setting up new industry, and not merely for acquisition of plant or machinery, said subsidy amount would not be deducted from actual cost of plant and machinery

from www.taxmann.com Latest Case Laws https://ift.tt/2K3r2Ha
-
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...