The Tax Publishers2021 TaxPub(DT) 0629 (Del-Trib)

IN THE ITAT, DELHI BENCH

SUDHANSHU SRIVASTAVA, J.M. & B.R.R. KUMAR, A.M.

DCIT v. SPL Industries Ltd.

ITA No. 5302/Del/2014 & Cross Objections No. 119/Del/2015 Arising out of ITA No. 5302/Del/2014

29 January, 2021

Appellant by: Prakash Dubey, Sr. DR

Respondent by: Anshul Mittal, CA & Divesh Kalra, CA

ORDER

Sudhanshu Srivastava, J.M.

ITA No.5302/Del/2014 is the Department s appeal against Order, dt. 2-7-2014 passed by the learned Commissioner (Appeals)-12, New Delhi (CIT (A)) for assessment year 2005-06 whereas Cross Objection No.119/Del/2015 has been preferred by the assessee..

2.0 The brief facts of the case are that the return of income was filed declaring an income of Rs. 8,84,23,980. Subsequently, the assessment was completed an income of Rs. 9,59,45,806 under section 143(3) of the Income Tax Act, 1961 (hereinafter called the Act ) on 26-12-2007. Thereafter, a notice under section 148 of the Act was issued on 2-11-2011 after recording of reasons. In response to the said notice, the assessee submitted that the original return of income filed by the assessee may be treated as the return filed in compliance of notice issued under section 148 of the Act. The reasons recorded for the re-opening are as under:

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