TMI Blog2017 (10) TMI 1462X X X X Extracts X X X X X X X X Extracts X X X X ..... MR. JUSTICE VIJAY KUMAR VYAS For the Appellant : Mr. Naresh Gupta For the Respondent : Mr. Sameer Sharma with Mr. Gaurav Gaur for Mr. Anil Mehta Judgment 1. In both these appeals common question of law and facts are involved hence they are decided by this common judgment. 2. By way of these appeals, the appellant has assailed the judgment and order of the tribunal whereby tribunal has partl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The facts of the case are that the assessee is a public limited company running a Hospital under the name & style as "Jaipur Hospital" situated at Lalkothi, Tonk Road, Jaipur mainly in the fields of orthopedic and cardiac care. Assessee had filed its return of income u/s 139(1) of Income Tax Act, 1961 respectively declaring total income of Rs. 24,92,280/- & Rs. 29,38,980/-, search operations u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... table to diversion of interest bearing funds. 5. We have heard counsel for the parties. 6. Counsel for the appellant has taken us to the order of AO as well as CIT(A) and contended that the view taken by the AO on the basis which CIT(A) has partly allowed the appeal is required to be confirmed. 7. However, the tribunal while considering the matter observed as under:- "3.9 We have heard th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accounts are properly maintained and not rejected by lower authorities. As compared to AY 2009-10 assessee's gross receipts, GP and NP % have gone up and at the same time % consumption of cotton has gone down; this data also has not been disputed in any manner by revenue, assessee claims that no cotton was purchased from SKS in 2009-10. In this circumstance an alternate plea is advanced that a su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led for. 9. Therefore, the issue is required to be answered in favour of the department against the assessee. 10. We observe that on the basis of this assessment order, no prosecution will be launched and if it is launched, it will be open for the present appellant to take defence that he has succeeded before the tribunal which has been confirmed by this court. 11. In that view of the matter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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