DCIT, Circle-9(1), Hyderabad, Hyderabad V. M/s Sriram Multi Speciality Hospital, Hyderabad

MA 149/HYD/2014

• Counselvise Citation: [2014] 124 COUNSELVISE.COM (IT) 2515 (ITAT-HYDERABAD)
• Duration Of Justice: 30 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 28-11-2014
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 29-10-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJAT MITRA
• Assessee Lawyers: A V RAGHURAM

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER M.A. NOS. 149 & 150/HYD/2014 (IN ITA NOS. 2230 & 2231/H/2011 AYS: 2006-07 AND 2007-08) DY. COMMISSIONER OF INCOME-TAX, CIRCLE 9(1), HYDERABAD. V/S- SRIRAM MULTI SPECIALITY HOSPITAL, HYDERABAD PAN - (APPLICANT) (RESPONDENT) REVENUE BY: SHRI RAJAT MITRA ASSESSEE BY: SHRI A.V. RAGHURAM DATE OF HEARING: 28.11.2014 DATE OF PRONOUNCEMENT: 28.11.2014 O R D E R PER SAKTIJIT DEY,JUDICIAL MEMBER : BY THESE MISC. APPLICATIONS, THE DEPARTMENT IS SEEK ING THE TRIBUNAL TO RECTIFY THE MISTAKE IN THE ORDER OF THE TRIBUNAL PASSED IN ITA NOS. 2230 & 2231/HYD/2011, DATED 23/04/2014 PERTAI NING TO THE ASSESSMENT YEARS 2006-07 AND 2007-08.. 2. IN THE MA, IT HAS BEEN STATED THERE IS A CALCULA TION MISTAKE IN DETERMINING THE AVERAGE NET PROFIT, VIDE PARA NO. 1 4 OF THE ORDER WHEREIN THE ITAT HAD DETERMINED THE AVERAGE NET PROFIT RATI O AT 23.02% AND DIRECTED THE AO TO DETERMINE THE NET PROFIT @ 22.0 2% OF THE GROSS RECEIPTS FOR THE AY 2006-07 AND 2007-08, WHICH IS A MISTAKE APPARENT FROM RECORD. FURTHER, ASSESSEE STATED THAT IF THE A BOVE NET PROFIT @ M.A.NOS. 149 & 150/HYD/2014 M/S SAIRAM MULTI SPECIALITY HOSPITAL 2 22.02% IS ADOPTED THE INCOME DETERMINED WILL BE LES S THAN THE INCOME RETURNED BY ASSESSEE. 3. ON PERUSAL OF THE IMPUGNED ORDER OF TRIBUNAL, WE FIND THAT THERE IS INDEED A TYPOGRAPHICAL MISTAKE AT PARA NO. 14 IN THE OPERATIVE PORTION OF THE ORDER OF THE TRIBUNAL WHEREIN AT LINE 7, THE NET AVERAGE NET PROFIT FOR THE LAST FOUR YEARS IS WORKED OUT AT 23.02% INS TEAD OF 28.02%. AGAIN AT LINE 11, IT HAS BEEN MISTAKENLY MENTIONED, FOR A SSESSMENT YEARS 2006-07 AND 2007-08, INCOME IS TO BE ESTIMATED AT 2 2.02% INSTEAD OF 28.02. THEREFORE, THE AFORESAID TYPOGRAPHICAL MISTA KE IS RECTIFIED AS UNDER: IN PARAGRAPH 14 OF THE APPEAL ORDER, THE AVERAGE N ET PROFIT MAY BE READ AS 28.02% IN STEAD OF 23.02% AND INCOME TO BE ESTIMATED MAY BE READ AS 28.02% IN STEAD OF 22.02%. 4. IN THE RESULT, THE MISCELLANEOUS APPLICATIONS FI LED BY THE DEPARTMENT ARE ALLOWED. ORDER WAS PRONOUNCED IN THE COURT ON 28 TH NOVEMBER, 2014. SD/ - (P.M. JAGTAP) SD/ - (SAKTIJIT DEY) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED: 28 TH NOVEMBER, 2014 M.A.NOS. 149 & 150/HYD/2014 M/S SAIRAM MULTI SPECIALITY HOSPITAL 3 COPY TO:- 1) M/S SAIRAM MULTI SPECIALITY HOSPITAL, C/O M/S K. VASANTHKUMAR & AV RAGHURAM, ADVOCATES, 6 TH FLOOR, BABUKHAN ESTATE, BASHEERBAGH, HYDERABAD 1. 2) DCIT, CIRCLE 9 (1), HYDERABAD 3) THE CIT (A)-VI, HYDERABAD 4) THE CIT-II, HYDERABAD 5) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABAD. S.NO. DESCRIPTION DATE INTLS 1. DRAFT DICTATED ON SR.P.S./P.S 2. DRAFT PLACED BEFORE AUTHOR SR.P.S/PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER JM/AM 5 APPROVED DRAFT COMES TO THE SR.P.S./PS SR.P.S./P.S 6. KEPT FOR PRONOUNCEMENT ON SR. P.S./P.S. 7. FILE SENT TO THE BENCH CLERK SR.P.S./P.S 8 DATE ON WHICH FILE GOES TO THE HEAD CLERK 9 DATE OF DISPATCH OF ORDER