2024 (9) TMI 207

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.... at the outset that the assessee is aggrieved against the learned PCIT's revision directions holding the Assessing Officer's regular assessment dated 22.09.2021 as an erroneous one causing prejudicial to interest of Revenue for the sole reason that latter had not assessed the assessee's alleged suppressed professional receipts; declared as additional income, during the course of survey dated 26.02.2019, u/s 115BBE of the Act. 3. Shri Puranikh vehemently argued that the PCIT herein has erred in law and on facts in assuming section 263 revision's jurisdiction thereby directing the Assessing Officer to invoke section 115BBE qua assessee's professional receipts declared during survey. He further invites our attention to the case records that....

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....nder provisions of section 115BBE of the Income Tax Act. The relevant portion of the section 69 is read as under: "69. Unexplained investments. Where in the financial year immediately preceding the assessment year the assessee has made investments which are not recorded in the books of account, if any, maintained by him for any source of income, and the assessee offers no explanation about the nature and source of the investments or the explanation offered by him is not, in the opinion of the [Assessing Officer] [ Substituted by Act 4 of 1988, Section 2, for "Income-tax Officer" (w.e.f. 1.4.1988).], satisfactory, the value of the investments may be deemed to be the income of the assessee of such financial year." D....

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....ration to the assessee's foregoing contentions and find no merit therein. We wish to make it clear that there is hardly any dispute between the parties about the fact that this assessee is an "Orthopaedic" hospital providing maternity and other similar facilities. That being the case, we are of the considered view that the Rule 6F(3)(i) stipulates that such a "person" carrying out specified profession(s) i.e. "medical" herein is supposed to maintain a daily "case register" in Form No.3C prescribing the relevant particulars including the patients' names, nature of services rendered, fees received and data of receipt etc. We find that the assessee's instant case file nowhere indicates compliance thereof which could take us to the conclusion t....