Actual Cost u/s 43(1)

CA. Deepak Narula (B.Com., ACA, DISA) (541 Points)

07 December 2010  

As per Explanation 10 to section 43(1), any subsidy received from anyone will not be included in the actual cost to assessee. What will be the treatment if the subsidy received for the asset the block of which is already nil? Will the depreciation claimed by assessee in the previous years be disallowed?