Supreme Court · 1994 INSC 391 · Decided 14 September 1994
Commissioner of Income Tax, Hyderabad v. M/S. P.J. Chemicals LTD. ETC.
- Court
- Supreme Court of India
- Citation
- 1994 INSC 391 · [1994] SUPP. 3 S.C.R. 561
- Case number
- CIVIL APPEAL No. 2474/1991
- Decided
- 14 September 1994
- Bench
- M.N. VENKATACHALIAH, S.C. AGRAWAL (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 43(1), 256
Headnote
TAX, HYDERABAD A v. M/s. P.J. CHEMICALS LTD. ETC. SEPTEMBER 14, 1994 [M.N. VENKATACHALIAH, C.J. AND S.C. AGRAWAL, J.] B Income Tax Act 196J-Sections 43(1) and 32-''ActuaZ.cost'~ature of subsidy granted to industrie~Whether constitutes part of actual cos~ or intended as incentive-Held, computing depreciation etc.-Expression "actual cost" to be interpreted libeal­ ly-Depreciatiort-lnterpretation of taxing statutes-Income Tax Act 1922. On the question whether subsidies granted to industries on a per­ centage of the capital cost are to be deducted while
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