Held, that if the purpose of the subsidy was industrialisation of the backward State and was of capital nature, such subsidy was not required to be reduced from the cost of the asset under Explanation 10 to section 43(1) of the Act. The order of the CIT (A) justified. (AY. 2003-04,2006-07 to 2008-09)
Jindal Steel and Power Ltd v. Add. CIT (2022)97 ITR 516 (Delhi) (Trib)
S. 43(1): Actual cost-Subsidy for industrialization of backward state-Capital Nature-Not to be reduced from the asset cost. [Expln. 10].