section 56; (xviii) assistance in the form of a subsidy or grant or cash incentive or duty drawback or waiver or concession or reimbursement ... cash or kind to the assessee other than,— (a) the subsidy or grant or reimbursement which is taken into account for determination of the actual
other person, in the form of a subsidy or grant or reimbursement (by whatever name called), then, so much of the cost as is relatable ... such subsidy or grant or reimbursement shall not be included in the actual cost of the asset to the assessee: Provided that where such subsidy
shall be inserted, namely: - "(xviii) assistance in the form of a subsidy or grant or cash incentive or duty drawback or waiver or concession ... agency in cash or kind to the assessee other than the subsidy or grant or reimbursement which is taken into account for determination
carrying on business in India shall be eligible for any grant, bounty or subsidy payable out of the revenues of the Federation ... that this subsection shall not apply in relation to any grant, bounty or subsidy for the encouragement of any trade or industry
other person, in the form of a subsidy or grant or reimbursement (by
whatever name called), then, so much of the cost as is relatable ... indirect meeting of
cost can be in the form of a subsidy, grant or reimbursement. But the
situation of present case is totally different. Here
grant to offer for the P & L A/c. out of every
yearend balance. The detailed break-up of the balance government grant/subsidy ... that on verification of subsidies and grants, the
AO observed that the assessee has shown deferred government grants, subsidies,
contribution at Rs.7305.70 lakhs
proper in respect of addition of
Capital Grants towards total grants/subsidies /consumer contribution received
during the year. Section 43(1) of the Act indicates ... that the capital grant should
be reduced from total grants /subsidies /consumer contribution of the particular
asset and the same should be calculated accordingly
subsidy and was in fact granted such subsidy to the extent of Rs. 15 lakhs. However, when it came to the question of grant ... case for grant of interest at the rate of 18 per cent. per annum from the date of application for grant of subsidy till
shall be taken by
the ld Assessing Officer after adjusting the
subsidy/grant/reimbursement from the State Govt. or the other
government departments. Accordingly, this ... Grants/ contribution received from State Govt. / Other Govt. Departments
towards the cost of fixes assets is shown separately under the heads
Contributions, Grants, Subsidies towards
asset, such subsidy
shall not be included in the actual cost of the assets. In a case, where such
subsidy or Grant or reimbursement ... which the subsidy and grants
have been received. Hence and inference is drawn that the Govt. grants/subsidy
and consumers' contribution are relatable
