Despite addition no penalty when Assessee has already disclosed all facts

ACIT Vs Kishangarh Hi Tech Textile Park Ltd. (ITAT Jaipur)

Since the assessee has disclosed entire facts in the Balance Sheet with regard to the subsidy of Rs. 36.00 crores received by it and the depreciation at 80% on the entire windmill as a whole has been claimed on the basis of various decisions of Hon’ble Rajasthan High Court and the subsidy of Rs. 36.00 crores received by the assessee from Ministry of Textile, Government of India was not reduced from the cost of the windmill, as according to the assessee, the Proviso

Please become a Premium member. If you are already a Premium member, login here to access the full content.