COMMISSIONER OF INCOME TAX Vs. DHANPAT RAI

JUDGEMENT

(1.) The present appeal has been filed under Section 260A of Income Tax Act, 1961 (for brevity "Act 1961") challenging the order dated 24th April, 2009 passed by the Income Tax Appellate Tribunal (in short "ITAT"), for the assessment year 2006-2007.

(2.) Ms. Prem Lata Bansal, learned counsel for revenue stated that ITAT erred in law in setting aside the order passed by the Commissioner of Income Tax (Appeal) under Section 263 of Act, 1961 and restoring the assessment order passed by the Assessing Officer. In this connection, Ms. Prem Lata Bansal, learned counsel for revenue relied upon certain observations made by this Court in Gee Vee Enterprises v. Additional Commissioner of Income Tax Delhi-I.

(3.) The ITAT in the impugned order has held as under: