THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 43(1), would suggest that actual receipt of subsidy was a condition precedent forinvoking such provisions - Held, yes - Whether where amount of subsidy had actually been received by assessee in next financial year, actual cost of plant and machinery could not be reduced during year under appeal thereby reducing claim of depreciation - Held, yes - Whether, however, Assessing Officer

M/S FIL INDUSTRIES LTD,SRINAGAR vs. THE DY COMMISSIONER OF INCOME TAX, SRINAGAR