2007 (12) TMI 207 - HC - Income Tax

Whether Tribunal is right in allowing deduction u/s 80-I question involved is no more res integra as it has been already decided in the case of the assessee himself that the Tribunal was right in allowing deduction u/s 80-I as more than twenty persons were working under control of the assessee in the industrial undertaking of the assessee in view of law laid down in the case of CIT v. Prithviraj Bhoorchand question is answered in the affirmative i.e. in favour of the assessee

Summary

The Gujarat High Court upheld the decision of the Appellate Tribunal to allow deduction under section 80-I of the Income-tax Act. The court ruled in favor of the assessee, stating that the Tribunal was correct in directing the Department to allow the deduction. The decision was based on the fact that more than twenty persons were working under the control of the assessee in the industrial undertaking. The appeal was dismissed with no order as to costs.