Subsidy towards power generation plant is to be reduced from actual cost of plant for allowing depreciation u/s. 32

HIGH COURT OF KARNATAKA Commissioner of Income-tax, Circle -2 Versus Shree Renuka Sugars Ltd. IT APPEAL NOS. 5006 & 5007 OF 2011 AUGUST 31, 2012 JUDGMENT Dr. K. Bhakthavatsala, J. – Those two Appeals filed by the Revenue are directed against the common order dated 2.12.2010 made in ITA Nos.130 and 131/Panaji/2009 on the file of Income Tax Appellate Tribunal (ITAT), Panaji Bench at Panaji. 2. We are proceeding to dispose off these two Appeals by this common judgment. 3. Brief facts of the case leading to the filing of the Appeals may be stated as under: Respondent (in...