https://www.taxtmi.com/caselaws?id=184984 The Tribunal upheld the CIT(A)'s decision regarding the deduction under Section 80JJAA, allowing the deduction for wages paid to workmen employed for at least 300 days in the previous year, even if they were employed in preceding years. The Tribunal emphasized that the deduction is allowable for three years once the employment condition is met in the first year. On the issue of disallowance of depreciation on assets purchased from a sister concern, the Tribunal set aside the lower authorities' decisions and directed the Assessing Officer to properly examine the valuation report to determine the actual cost of the assets for depreciation claims. The revenue's appeals were dismissed, and the assessee's cross-objection was allowed for statistical purposes. en-us Fri, 24 Jul 2015 00:00:00 +0530 Fri, 09 Dec 2022 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184984 The Tribunal upheld the CIT(A)'s decision regarding the deduction under Section 80JJAA, allowing the deduction for wages paid to workmen employed for at least 300 days in the previous year, even if they were employed in preceding years. The Tribunal emphasized that the deduction is allowable for three years once the employment condition is met in the first year. On the issue of disallowance of depreciation on assets purchased from a sister concern, the Tribunal set aside the lower authorities' decisions and directed the Assessing Officer to properly examine the valuation report to determine the actual cost of the assets for depreciation claims. The revenue's appeals were dismissed, and the assessee's cross-objection was allowed for statistical purposes. Case-Laws Income Tax Fri, 24 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184984