Absence of any specification in scheme as to utilization of subsidy for purpose of acquiring depreciable fixed assets, subsidy cannot be reduced from actual cost of fixed assets under Explanation 10 to section 43(1) of the Act. (AY. 2012-13, 2013-14)
Electrosteel Castings Ltd. v. DCIT (2021) 189 ITD 183 (Kol.)(Trib.)
S. 43(1) : Actual cost-Subsidy-Depreciable assets-Subsidy cannot be reduced from actual cost. [S. 32]