TMI Blog2018 (12) TMI 185X X X X Extracts X X X X X X X X Extracts X X X X ..... oes not make the order prejudicial to the interest of Revenue. The Tribunal further held that exercise of revisionary powers by the Commissioner under section 263 of the Act was not warranted in the facts of case. The issue arising in the present appeal before us is also against exercise of revisionary powers by the Commissioner under section 263 on the same grounds as raised in assessment year 2010-11. Since the issue has been decided in favour of assessee and the order of Commissioner passed under section 263 of the Act in assessment year 2010-11 has been held to be both invalid and bad in law, following the same parity of reasoning, we hold that exercise of revisionary powers by the Commissioner under section 263 in assessment year 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowed by the learned A.O. without making proper enquiries. 4. The learned PCIT erred in initiating the proceedings u/s 263 merely on the doubt that the order passed by the AO appears to be without bringing on record sufficient material and details of proper verification thereof and that the order passed by the AO appears erroneous and prejudicial to the interest of the revenue within the meaning of Sec. 263 of the Act. 5. The learned PCIT failed to appreciate that the Appellant Company has complied with all the relevant conditions to be eligible for deduction u/s 80 IB(11C) which are also reproduced by the PCIT in the notice issued u/s. 263 initiating the proceedings and all the issues were also verified by the learned A.O. and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... against order passed by the Commissioner under section 263 of the Act. 4. Briefly, in the facts of the case, the assessee had furnished return of income declaring Nil income. The case of assessee was picked up for scrutiny and assessment order under section 143(3) of the Act was passed on 30.03.2015 after accepting plea of the assessee that it is entitled to claim deduction under section 80IB(11C) of the Act since the assessee was running multispecialty hospital at Ratnagiri. The Commissioner noted that the assessee had claimed deduction under section 80IB(11C) of the Act at ₹ 40,44,568/-. He further noted the conditions prescribed in the said sub-section and observed that for assessment year 2010-11 it was seen that construction o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entative for the assessee referred to the show cause notice issued under section 263 of the Act and pointed out that proceedings were initiated by the Commissioner following the order under section 263 of the Act in assessment year 2010-11. He then, referred to the order of Tribunal, which is placed at pages 105 to 111 of Paper Book, wherein the Tribunal in ITA No.795/PUN/2015, relating to assessment year 2010-11, order dated 31.10.2017 had held the order passed by the Commissioner under section 263 of the Act as invalid and bad in law. 7. The learned Departmental Representative for the Revenue on the other hand, placed reliance on the order of Commissioner passed under section 263 of the Act. 8. We have heard the rival contentions an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der prejudicial to the interest of Revenue. The Tribunal further held that exercise of revisionary powers by the Commissioner under section 263 of the Act was not warranted in the facts of case. The relevant findings of Tribunal are in paras 10 to 12 of the order dated 31.10.2017, which are being referred to but are not being reproduced for the sake of brevity. 10. The issue arising in the present appeal before us is also against exercise of revisionary powers by the Commissioner under section 263 of the Act on the same grounds as raised in assessment year 2010-11. Since the issue has been decided in favour of assessee and the order of Commissioner passed under section 263 of the Act in assessment year 2010-11 has been held to be both in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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