Appeal details
Counselvise Citation
[2021] 109 COUNSELVISE.COM (IT) 7460 (ITAT-HYDERABAD)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
1 year(s) 6 month(s) 1 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
20-01-2021
Appeal Filed By
Department
Order Result
Dismissed
Bench Allotted
DB-A
Assessment Year
2014-2015
Appeal Filed On
19-07-2019
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD BEFORE S HRI SATBEER SINGH GODARA , JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU , ACCOUNTANT MEMBER (THROUGH VIRTUAL CONFERENCE) S. NO. ITA NO. AY APPELLANT RESPONDENT 1 1162/ H /2019 2014 - 15 DY. COMMISSION ER OF INCOME - TAX, CIRCLE 2(1), HYDERABAD. INVENTAA CHEMICALS LTD., HYDERABAD. PAN - AAACI 4539B DATE OF HEARING : 1 8 - 0 1 - 20 2 1 DATE OF PRONOUNCEMENT : 20 - 01 - 20 2 1 O R D E R PER BENCH: THIS REVENUES APPEAL FOR AY 2014 - 15 IS DIRECTED AGAINST THE CIT(A), RAJAMAHENDRAVARAM, EAST GODAVARI DISTRICT, DATED 29/03/2019 PASSED IN CASE NO. FOR REVENUE : SHRI SUNIL KUMAR PANDEY FOR ASSESSEE : SMT. S. SANDHYA ITA NO. 1162 /HYD/1 9 INVENTAA CHEMICALS LTD., HYD. : - 2 - : 10066/2018 - 19/CIT(A)/RJY INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME - TAX ACT, 1961; IN SHORT THE ACT. WE HAVE HEARD BOTH THE PARTIES . C ASE FILE PERUSED. 2 . THE REVENUES SOLE GRIEVANCE IN THE INSTANT APPEAL CHALLENG ES CORRECTNESS OF THE CIT(A) ACTO IN TREATING ASSESSEES INCOME OF RS. 9,53 ,40,790/ - FROM MUSHROOM FARMING/ PRODUCTION AS AGRICULTURAL ENTITLED FOR EXEMPTION U/S 10(1) OF THE IT ACT. THE ASSESSING OFFICERS ASSESSMENT ORDER HAD TREATED AS BUSINESS INCOME . 2.1 WE NOTICE, DURING THE COURSE OF HEARING THAT THE INSTANT SOLE ISSUE INVOLVED HEREIN IS NO MORE RES - INTE GRA . THIS TRIBUNALS S PECIAL B ENCH S DECISION DCIT VS. INVENTA A CHEMICALS LTD., (A SSESSEES OWN CASE FOR AYS 2008 - 09 TO 2012 - 13 ) (2018) 172 ITD 1 (HYD.) (SB), HAS ALREADY DECLINED THE R EVENUES VERY ARGUMENT THAT THE INCOME DERIVED FROM MUSHROOM PRODUCTION IS BUSINESS INCOME . WE THUS ADOPT THE JUDICIAL CONSISTENCY TO UPHOLD THE CIT(A)S ORDER TREATING THE INCOME DERIVED BY THE ASSESSEE FROM MUSHROOM CULTIVATION AS AGRICULTURAL INCOME ENTITLED FOR SECTION 10(1) EXEMPTION . ITA NO. 1162 /HYD/1 9 INVENTAA CHEMICALS LTD., HYD. : - 3 - : 3. THIS R EVENUE S APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 20 TH JANUARY, 2021 . SD/ - SD/ - ( LAXMI PRASAD SAHU ) ( S.S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDE RABAD, DATED : 20 TH JANUARY, 20 2 1 K V C OPY TO : 1 DCIT, CIRCLE 2 ( 1 ), ROOM NO. 514, 5 TH FLOOR, SIGNATURE TOWERS, KONDAPUR, HYDERABAD 500 084 2 M/S INVENTAA CHEMICALS LTD., D.NO. 10 - 91, OPP. IDPL COLONY, SOWBHAGYA NAGAR, HYDERABAD 500 037 3 CIT(A) , RAJAMAHENDRAVARAM 4 PR. CIT - 2 , HYDERABAD 5 ITAT, DR, HYDERABAD. 6 GUARD FILE.
