Govt subsidy not related to any specific assets cannot be reduced from cost of asset

Spectrum Coal & Power Ltd. Vs. ACIT (ITAT Mumbai)

From reading of Explanation 10 to section 43(1) it is explicitly clear that if a portion of cost of an asset as acquired, had been met directly or indirectly by Central Government or State Government or any authority established under any law or by any other person in the form of a subsidy or a grant or reimbursement, said subsidy grant or reimbursement as was relatable to the asset would be reduced out of the a

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