2021 (10) TMI 1412

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.... Hon'ble Mr. Justice E.S.Indiresh For the Appellants : Sri E.I.Sanmathi, Adv. For Sri K.V.Aravind, Adv. For the Respondent : Sri Sharath S., Adv. JUDGMENT This appeal is filed by the Revenue under Section 260A of the Income Tax Act, 1961 ['Act' for short] challenging the order of the Income Tax Appellate Tribunal "A" Bench, Bengaluru ['Tribunal' for short] passed in ITA No.1333/Bang/20....

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....en they are cannot be come under definition of section 2[15] irrespective of nature of application of income and the Legislature having felt the need of providing exemptions to Agricultural Produce Marketing Committees and Boards, inserted clause 25AAB in section 10 by the Finance Act, 208 w.e.f., 1/4/2009 to provide such exemption and kept Development Authorities outside such category of persons?....

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.... the respondent - assessee submits that the issue involved herein is squarely covered by the Co-ordinate Bench ruling of this Court in the assessee's own case decided on 30.09.2020 in ITA No.205/2016 reported in (2021) 277 Taxman 36 (Karnataka) [Karnataka Industrial Area Development Board V/s. Additional Director of Income Tax [Exemptions], Bengaluru]. 3. Learned counsel for the Revenue could n....