Depreciation allowable on Actual Cost of Assets without reducing Subsidy

DCIT (LTU) Vs Nestle India Ltd (ITAT Delhi) Depreciation allowable on Actual Cost of Assets without reducing Subsidy amount Where the Government subsidy is intended as an incentive to encourage entrepreneurs to move to backward areas and establish industries, the specified percentage of fixed capital costs, which is the basis for determining the subsidy, is only a measure adopted in the scheme to quantify the amount of subsidy and it is not a payment directly or in directly to meet any portion of the actual costs of assets. In the present case, as per the scheme of the subsidy, the same has no...