ACIT, Hyderabad v. M/s. Rasa Agrotech Pvt.Ltd., Secunderabad

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B' HYDERABAD BEFORE SHRI G.C.GUPTA VICE PRESIDENT AND SHRI CHANDRA POOJARI ACCOUNTANT MEMBER ITA NO.1277/HYD/10 : ASSTT . YEAR 2007-08 ASST. COMMISSIONER OF INCOME- TAX CIRCLE-3(1) HYDERABAD V/S. M/S. RASA AGRO TECH PVT. LTD. SECUNDERABAD ( PAN AABCR 8624 B ) (APPELLANT) (RESPONDENT) APPELLANT BY : SMT. VASUNDHARA SINHA RESPONDENT BY : MS. MANJU LATHA NAVANDHAR O R D E R PER G.C.GUPTA VICE PRESIDENT: THIS APPEAL BY THE REVENUE FOR THE ASSESSMENT YEAR 20 07-08 IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME -TAX(APPEALS). 2. GROUNDS OF APPEAL OF THE REVENUE ARE AS UNDER- '1. THE CIT(A) ERRED IN LAW AND ON FACTS IN ALLOWIN G THE ASSESSEE'S APPEAL. 2. THE CIT(A) ERRED IN HOLDING THAT THE ASSESSEE IS ELIGIBLE FOR DEDUCTION U/S. 10B OF THE IT ACT.' 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS RELI ED ON THE ORDER OF THE ASSESSING OFFICER. THE LEARNED COUNSEL FOR THE A SSESSEE SUBMITTED THAT THE ISSUE INVOLVED IN THE GROUNDS OF APPEAL OF THE REV ENUE IS COVERED IN FAVOUR OF THE ASSESSEE WITH THE DECISION OF THE HYDERABAD BENCHES OF THE TRIBUNAL IN ASSESSEE'S OWN CASE FOR THE ASSESSMENT YEAR 2004-0 5 IN ITA ITA NO.1277./HYD/1 0 M/S. RASA AGRO TECH PVT. LTD. SECUNDERABAD 2 NO.408/HYD/2007 DATED 21.11.2008; FOR THE ASSESSMENT YEA R 2005-06 IN ITA NO.950/HYD/2008 DATED 3.3.2009; AND FOR ASSESSMENT Y EAR 2006-07 IN ITA NO.627/HYD/2009 DATED 3.8.2009. 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND HAVE PERUSED THE ORDERS OF THE ASSESSING OFFICER AND THE CIT(A). WE FIND THAT THE ISSUE INVOLVED IN THE GROUNDS OF APPEAL OF THE REVENUE RE GARDING ALLOWABILTY OF DEDUCTION UNDER S.10B OF THE ACT TO THE ASSESSEE IS COVERED IN FAVOUR OF THE ASSESSEE WITH THE DECISIONS OF THE COORDINATE BENCHES OF THE HYDERABAD TRIBUNAL IN ASSESSEE'S OWN CASES FOR THE EARLIER ASSESSMENT YEA RS VIZ. 2004- 05 2005-06 AND 2006-07 CITED SUPRA AND THE FACTS OF T HE CASE FOR THE YEAR UNDER CONSIDERATION BEING IDENTICAL AND WE BEING IN A GREEMENT WITH THE DECISION OF THE COORDINATE BENCHES OF THE TRIBUNAL IN ASS ESSEE'S OWN CASES FOR EARLIER ASSESSMENT YEARS NOTED ABOVE DECIDE THE ISSUE OF ALLOWABILITY OF DEDUCTION UNDER S.10B OF THE ACT IN FAVOUR OF THE ASSESSE E. ACCORDINGLY ORDER OF THE CIT(A) IS CONFIRMED AND THE GROUNDS OF AP PEAL OF THE REVENUE ARE REJECTED. 5. IN THE RESULT APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE COURT ON 18.2.2011 SD/- SD/- (CHANDRA POOJARI) (G.C.GUPTA) ACCOUNTANT MEMBER VICE PRESIDENT DT/- 18 TH FEBRUARY 2011 COPY FORWARDED TO: 1. M/S. RASA AGRO TECH PVT. LTD. UNICOM HOUSE NO.3 NEAR GUNROCK DIAMOND POINT TRANSPORT ROAD SECUNDERAB AD-500 009 2. ASST. COMMISSIONER OF INCOME-TAX CIRCLE-3(1). HYDER ABAD 3. COMMISSIONER OF INCOME-TAX(APPEALS)-IV HYDERABAD. 4. COMMISSIONER OF INCOME-TAX-III HYDERABAD ITA NO.1277./HYD/1 0 M/S. RASA AGRO TECH PVT. LTD. SECUNDERABAD 3 5. THE DEPARTMENTAL REPRESENTATIVE ITAT HYDERABAD. B.V.S