ACIT, WARDHA CIRCLE, WARDHA vs. M/S EUREKA MEDICARE PVT LTD, YAVATMAL

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ITA 102/NAG/2020Status: DisposedITAT Nagpur12 October 2023AY 2013-14Bench: SHRI SATBEER SINGH GODARA (Judicial Member), DR. DIPAK RIPOTE (Accountant Member)3 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The CIT(A) had previously held that the receipts were allowable deductions. This tribunal's order, which reversed the revision directions and was upheld by the High Court, rendered the second round of assessment proceedings invalid.

What were the facts?

This is the second round of assessment proceedings initiated after the Principal CIT directed a revision of the initial assessment. The Assessing Officer disallowed the assessee's claim for deduction under Section 80IB(11C) in the second round.

What were the issues?

Whether the second round of assessment proceedings were valid after the revision directions were reversed by a higher authority. Whether the receipts were eligible for deduction under Section 80IB(11C).

Which sections of the Income-tax Act were involved?

Section 80IB(11C),Section 143(3),Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR BENCH : NAGPUR

Before: SHRI SATBEER SINGH GODARA & DR. DIPAK RIPOTE

Hearing: 20.09.2023Pronounced: 12.10.2023

ORDER PER SATBEER SINGH GODARA, J.M. :

This Revenue’s appeal, for assessment year 2013- 2014, arises against the CIT(A)-2, Nagpur’s order in case no.CIT(A)-2/10543/2018-19, dated 24.06.2020, involving proceedings u/s.143(3) r.w.s. 263 of the Income Tax Act, 1961 (in short “the Act”).

Heard both the parties. Case file perused.

2.

The Revenue raises the following substantive grounds in the instant appeal :

2 ITA.No.102/Nag./2020 1. “Whether on the facts and in the circumstances of the case and in law, the learned CIT(A), Nagpur was justified in holding that the receipt from referral income, interest income, rental income and receipts from the nursing college are allowable deduction u/s 8GIB(11C) of the Income Tax Act, 1961? 2. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A), Nagpur was justified in holding that the receipt from referral income, interest income, rental income and receipts from the nursing college were derived from the business of running the hospital in view of the Supreme Court decision in the case of M/s Liberty India-vs-CIT (SC) (2009) in civil appeal No. 5891 of 2009.

3. Any other ground that may be raised during the proceedings.”

3.

Suffice to say, it emerges during the course of hearing that the instant appeal hardly requires us to delve deeper in the relevant factual matrix. This is for the precise reason that this is second round of proceedings between the parties u/sec.143(3) r.w.s. 263 of the Act as per PCIT-2’s revision directions dated 29.03.2018 terming the Assessing Officer’s first round sec.143(3) assessment dated 01.03.2016 as an erroneous one causing prejudice to the interest of the Revenue. The Assessing Officer thereafter framed his second

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