COMMISSIONER OF INCOME-TAX Vs. CLOUGH ENGINEERING LTD

JUDGEMENT

(1.) THIS appeal under Section 260A of the Income -tax Act, 1961 (hereinafter referred to as 'the Act'), is directed against the order dated April 21, 2006, passed by the Income -tax Appellate Tribunal, Delhi Bench 'G', New Delhi (for short, 'the ITAT'), in I. T. A. No. 1975/D/2005 pertaining to the assessment year 2001 -02 by which the Tribunal has allowed the appeal of the respondent/assessee.

(2.) THE following substantial questions of law have been raised in the memo of appeal for consideration by this court: 1. Whether the learned Income -tax Appellate Tribunal was legally correct in law and on facts in setting aside the order under Section 263 dated February 21, 2005, passed by the Commissioner of Income -tax, Dehradun, holding that the assessment order passed by the Assessing Officer was neither erroneous nor prejudicial to the interests of the Revenue? 2. Whether the learned Income -tax Appellate tribunal was legally correct in law and on facts in holding that the Commissioner of Income -tax was not justified in resorting to the provisions of Section 263 of the Act in cancelling the assessment?

(3.) BEING aggrieved with the aforesaid order of the Income -tax Appellate Tribunal, the Revenue has come up in appeal before us.