Dy. Commissioner of Income Tax , Circle-2(1), Hyderabad V. Inventaa Industries Private Limited , Hyderabad

ITA 580/Hyd/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 5249 (ITAT-HYDERABAD)
• Duration Of Justice: 11 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-09-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2017-2018
• Appeal Filed On: 23-10-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S PRAVEENA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER I.T.A. NO. 580/HYD/2020 ASSESSMENT YEAR: 2017-18 DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1), HYDERABAD VS M/S.INVENTAA INDUSTRIES PRIVATE LIMITED, HYDERABAD [PAN: AAACI4539B] (APPELLANT) (RESPONDENT) FOR REVENUE : SMT. S.PRAVEENA, DR FOR ASSESSEE : SMT. S.SANDHYA, AR DATE OF HEARING : 16-08-2021 DATE OF PRONOUNCEMENT : 23-09-2021 O R D E R PER S.S.GODARA, J.M. : THIS REVENUES APPEAL FOR AY.2017-18 ARISES FROM THE CIT(A)-2, HYDERABADS ORDER DATED 18-08-2020 PASSED IN CASE NO.13520/2019-20/CIT(A)-2, IN PROCEEDINGS U/S.143(3 ) OF THE INCOME TAX ACT, 1961 [IN SHORT, THE ACT]. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. COMING TO THE REVENUES SOLE SUBSTANTIVE GROUND THA T THE CIT(A) HAS ERRED IN LAW AND ON FACTS HOLDING THE A SSESSEES INCOME OF RS.4,70,85,644/- DERIVED FROM MUSHROOM PRODUCTION AS AGRICULTURAL AND THEREFORE EXEMPT U/S.10 (1) OF THE ACT, BOTH THE LEARNED LOWER REPRESENTATIVES FAIRLY A DMITTED ITA NO. 580/HYD/2020 :- 2 -: THAT THIS TRIBUNALS SPECIAL BENCHS DECISION IN TAXPAYE RS CASE ITSELF [2018] 95 TAXMANN.COM 162 (HYDERABAD - TRIB.) (SB) (FOR AYS.2008-09 ONWARDS) HAS DECIDED THE SAME AGAINST THE DEPARTMENT. WE THUS ADOPT JUDICIAL CONSISTENCY AND UPHOL D THE CIT(A)S FINDINGS UNDER CHALLENGE FOR THIS REASON ALONE IN ABSENCE OF ANY DISTINCTION ON FACTS. 3. THIS REVENUES APPEAL IS DISMISSED IN ABOVE TERMS . ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD SEPTEMBER, 2021 SD/- SD/- (LAXMI PRASAD SAHU) (S.S.G ODARA) ACCOUNTANT MEMBER JUDICIAL MEM BER HYDERABAD, DATED: 23-09-2021 TNMM ITA NO. 580/HYD/2020 :- 3 -: COPY TO : 1.THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1 ), HYDERABAD. 2.M/S.INVENTAA INDUSTRIES PRIVATE LIMITED, FLAT NO. 618 & 619, 6 TH FLOOR, MANJEERA MAJESTIC COMMERCIAL, OPP: JNTU KPHB, KUKATPALLY, HYDERABAD. 3.CIT(APPEALS)-2, HYDERABAD. 4.PR.CIT-2, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.