Ita/1615/2009 Of The Commissioner Of Income Tax v. M/S.rajaswari Hospital

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN TUESDAY, THE 22ND SEPTEMBER 2009 / 31ST BHADRA 1931 ITA.No. 1615 of 2009() ---------------------- ITA.125/COCH/2000 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT --------------------------------------- THE COMMISSIONER OF INCOME TAX, KANNUR. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): RESPONDENT ------------------------- M/S.RAJASWARI HOSPITAL, TALAP, KANNUR. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 22/09/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR &V.K.MOHANAN, JJ. ....................................................................I.T. Appeal No.1615 of 2009 ....................................................................Dated this the 22nd day of September, 2009. JUDGMENT Ramachandran Nair, J. Questions raised in the appeal filed by the department relate tovarious additions made in the assessment of the assessee for theassessment year 1996-97. The assessee's explanation was accepted inregard to credits shown in the account and unexplained investment inhospital building. The substantial amount involved is Rs.21 lakhswhich is the difference between the value of the hospital buildingconstructed and the cost accounted by the assessee. However, theTribunal noticed that valuation taken was as 30.4.1998 as against theaccounts seen recorded as on 31.3.1996. The Tribunal accepted theexplanation that investment made subsequent to 31.3.1996 accounts forthe differential amount of Rs.21 lakhs. It is open to the department toissue notice to the assessee, if there is any justification for addition onaccount of this for subsequent years. We do not find any justificationto interfere with the order of the Tribunal, particularly when all the issues raised pertain to finding of facts recorded by the Tribunal basedon evidence. Appeal is accordingly dismissed. C.N.RAMACHANDRAN NAIRJudge pms V.K.MOHANANJudge