DCIT, Cirlce-2(1), Hyd, Hyderabad v. Kakatiya Cement Sugar & Industries Ltd., Hyd, Hyderabad

ITA 412/HYD/2016 | 2011-2012
Pronouncement Date: 18-10-2016 | Result: Dismissed

Appeal Details

RSA Number 41222514 RSA 2016
Bench Hyderabad
Appeal Number ITA 412/HYD/2016
Duration Of Justice 6 month(s) 21 day(s)
Appellant DCIT, Cirlce-2(1), Hyd, Hyderabad
Respondent Kakatiya Cement Sugar & Industries Ltd., Hyd, Hyderabad
Appeal Type Income Tax Appeal
Pronouncement Date 18-10-2016
Appeal Filed By Department
Order Result Dismissed
Bench Allotted A
Tribunal Order Date 18-10-2016
Assessment Year 2011-2012
Appeal Filed On 28-03-2016
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD BEFORE SHRI D. MANMOHAN VICE PRESIDENT AND SHRI B. RAMAKOTAIAH ACCOUNTANT MEMBER ITA.NO.412/HYD/2016 ASSESSMENT YEAR 2011-2012 DCIT CIRCLE-2(1) HYDERABAD. VS. M/S. KAKATIYA CEMENT SUGAR & INDUSTRIES LTD. HYDERABAD. PAN AABCK1868 (APPELLANT) (RESPONDENT) FOR REVENUE : MR. GVSS GOPINATH FOR ASSESSEE : -NONE- DATE OF HEARING : 18.10.2016 DATE OF PRONOUNCEMENT : 18.10.2016 ORDER PER D. MANMOHAN V.P. THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER PASSED BY THE CIT(A)-IX HYDERABAD AND IT PERTA INS TO THE A.Y. 2011-2012. THE FOLLOWING GROUNDS WERE URGED BY THE REVENUE. 1. IN THE FACTS AND CIRCUMSTANCES OF THE CASE WHETHE R THE CIT(A) IS CORRECT IN LAW IN HOLDING THAT COGENERATI ON POWER PLANT IS AN INDEPENDENT UNDERTAKING ELIGIBLE FOR DE DUCTION UNDER SECTION 80IA OF THE INCOME TAX ACT 1961 WHEN THE OPERATIONS ARE INTEGRATED WITH THE EXISTING SUGAR P LANT. 2. IN THE FACTS AND CIRCUMSTANCES OF THE CASE WHETHER THE CIT(A) IS CORRECT IN LAW IN HOLDING THAT GENERATION OF LP STEAM WHICH IS A WASTE PRODUCT WITH NO VALUE IS EQU AL TO GENERATION OF POWER WHICH IS ELIGIBLE FOR DEDUCTION UNDER SECTION 80IA OF THE INCOME TAX ACT 1961. 2 ITA.NO.412/HYD/2016 M/S. KAKATIYA CEMENT SUGAR & INDUSTRIES LTD. HYDERABAD. 3. IN THE FACTS AND CIRCUMSTANCES OF THE CASE WHETHER THE CIT(A) IS CORRECT IN LAW IN HOLDING THAT LP STEAM H AS DEFINITE VALUE WHERE AS SUCH LP STEAM HAS NO MARKET VALUE AND IN FACT A MARKETABLE COMMODITY. 2. NONE APPEARED FOR THE ASSESSEE. WE HAVE HEARD THE LD. D.R. AND CAREFULLY PERUSED THE RECORD. AS COULD BE NOTICED FROM THE ORDER PASSED BY THE LD. CIT(A) DEDUCTION UND ER SECTION 80IA WAS HELD TO BE ELIGIBLE HAVING REGARD TO THE FACT THAT UNDER IDENTICAL CIRCUMSTANCES THE ITAT HYDERABAD BENCH IN ASSESSEES OWN CASE FOR THE A.YS. 2007-2008 TO 2009- 2010 ADJUDICATED THE ISSUE IN FAVOUR OF THE ASSESSEE. THE L D. D.R. DID NOT DISPUTE THE FACTUAL MATRIX OF THE CASE. 3. HAVING REGARD TO THE CIRCUMSTANCES OF THE CASE WE DO NOT FIND ANY INFIRMITY IN THE ORDER PASSED BY THE LD. CIT(A) SINCE THE VIEW TAKEN BY THE LD. CIT(A) IS IN CONFORMITY WITH THE CONCLUSIONS REACHED BY THE ITAT IN ASSESSEES OWN CA SE FOR THE EARLIER YEARS. AS PRONOUNCED IN THE OPEN COURT THE A PPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 18.10.2016. SD/- SD/- (B. RAMAKOTAIAH) (D.MANMOHAN) ACCOUNTANT MEMBER VICE PRES IDENT HYDERABAD DATED 18 TH OCTOBER 2016 VBP/- COPY TO 1. THE DCIT CIRCLE-2(1) 8 TH FLOOR B BLOCK I.T. TOWERS A.C. GUARDS HYDERABAD. 2. M/S. KAKATIYA CEMENT SUGAR & INDUSTRIES LTD. H. NO.1-10-140/1 GURUKRUPA ASHOK NAGAR HYDERABAD. 3. CIT(A)-9 2 ND FLOOR ANNEXE AAYAKAR BHAVAN BASHEERBAGH HYDERAB AD 500 004. 4. PR. CIT-2 HYDERABAD. 5. D.R. I.T.A.T. A BENCH HYDERABAD. 6. GUARD FILE