Income Tax Appellate Tribunal - Hyderabad
Inventa Industries Private Limited , ... vs Dy. Commissioner Of Income Tax , ... on 22 June, 2021
IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCHES "B" : HYDERABAD
(THROUGH VIDEO CONFERENCE)
BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER
AND
SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER
I.T.A. No. 90/HYD/2020
&
C.O.No.06/HYD/2020
(Arising in ITA No.90/H/2020)
Assessment Year: 2016-17
Dy. Commissioner of M/s.Inventaa Industries
Income Tax, Vs Private Limited,
Circle-2(1), HYDERABAD
HYDERABAD [PAN: AAACI4539B]
(Appellant) (Respondent/Cross-Objector)
For Revenue : Shri Narayana Murthy, DR
For Assessee : Shri S.Rama Rao, AR
Date of Hearing : 13-05-2021
Date of Pronouncement : 22-06-2021
ORDER
PER S.S.GODARA, J.M. :
This Revenue's appeal ITA No.90/Hyd/2020 and assessee's Cross Objections No.06/Hyd/2020 for AY.2016-17 arise from the CIT(A)-2, Hyderabad's order dated 06-11-2019 passed in case No.10200/2018-19/CIT(A)-2, in proceedings u/s.143(3) of the Income Tax Act, 1961 [in short, 'the Act'].
Heard both the parties. Case files perused.
2. Coming to the Revenue's appeal ITA No.90/Hyd/2020 raising the sole substantive ground that the CIT(A) has erred :- 2 -:
ITA No. 90/Hyd/2020 C.O.No.06/Hyd/2020in law and on facts holding the assessee's income of Rs.12,46,16,453/- derived from mushroom production as agricultural and therefore exempt u/s.10(1) of the Act, both the learned lower representatives fairly admitted that this tribunal's Special Bench's decision in taxpayer's own case reported as [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 uphold the CIT(A)'s findings under challenge for this reason alone. Its main appeal ITA No.90/Hyd/2020 fails therefore.
3. Next comes the assessee's cross objection No.06/Hyd/2020 raising its sole substantive grievance that both the lower authorities have erred in law and on facts in disallowing corporate social responsibility claim of Rs.1,52,32,000/- u/s.28 r.w.s.37 of the Act.
4. Learned authorised representative stated at the bar that the assessee does not wish to press for the instant Cross Objection as it is availing settlement benefit under the 'Direct Tax Vivad Se Viswas Scheme-2020' by filing Form Nos.1 & 2 to this effect.
5. The assessee's sole identical plea in this case therefore is that since the department is yet to finalise its settlement pleas, this Cross Objection may not be dismissed as withdrawn as on date. We find no merit in assessee's above stated contention per se. The fact remains that it has filed for settlement benefit and therefore, no purpose would be served if this appeal is kept pending. We dismiss the same as withdrawn and further make it clear that it shall be open for the assessee to file for :- 3 -:
ITA No. 90/Hyd/2020 C.O.No.06/Hyd/2020revival of its Cross Objection if the above settlement benefit is denied to it for technical reasons. Ordered accordingly.
6. This Revenue's appeal ITA No.90/Hyd/2020 is dismissed and assessee's Cross Objection No.06/Hyd/2020 is dismissed as withdrawn in above terms. A copy of this common order be placed in the respective case files.
Order pronounced in the open court on 22 nd June, 2021 Sd/- Sd/-
(LAXMI PRASAD SAHU) (S.S.GODARA)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Hyderabad,
Dated: 22-06-2021
TNMM
:- 4 -:
ITA No. 90/Hyd/2020
C.O.No.06/Hyd/2020
Copy to :
1.The Deputy Commissioner of Income Tax, Circle-2(1), Hyderabad.
2.M/s.Inventaa Industries Private Limited, Flat No.618 & 619, 6th Floor, Manjeera Majestic Commercial, KPHB, Kukatpally, Hyderabad.
3.CIT(Appeals)-2, Hyderabad.
4.Pr.CIT-2, Hyderabad.
5.D.R. ITAT, Hyderabad.
6.Guard File.