Bombay High Court Upholds Assessee in Income Tax Reference on Subsidy and Section 35CC Deduction. Central Government Subsidy Not to Reduce Actual Cost for Depreciation Under Section 43(1) of Income-tax Act, 1961; Deduction Under Section 35CC(1) Not Denied for Non-Filing of Statement of Expenditure.
13 Jul 2005This is a reference under section 256(1) of the Income-tax Act, 1961, by the Income Tax Appellate Tribunal to the Bombay High Court. The reference ari...
