CIT v. Infosys Technologies Ltd: 352 ITR 74(Karn) v. CIT v. Sociedade de Fomento Industrial Ltd.

M/S. JEANS KNIT PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(1)(1), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri George George K & Ms. Padmavathy Sassessment Year : 2012-13

…gible for deduction u/s.80JJAA. 24. The next issue is regarding exclusion of 100 employees for the purpose of computing eligible deduction u/s 80JJAA. The Ld.AR relied on the decision of the Delhi Tribunal in the case of Panacea Biotech Ltd., Vs. ACIT (2008) 25 SOT 1 Delhi, where it was held that the 100 employees need not be excluded for the purpose of computing the deduction u/s 80JJAA where the employees are more than 100. 25. The Ld DR once again submitted that he agrees with the view taken by the lower authorities. The coordinate bench of Bangalore Tribunal in the case of M/s. Honeywell Technology Solutions…