2012 (9) TMI 586

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....Shambhu Chopra for the Income Tax Department. Shri Ashish Bansal appears for the respondent assessee. This income tax appeal arises out of an order of the Income Tax Appellate Tribunal in ITA Nos.472 & 473 (Luc.)/2010 for the assessment year 2006-07. The department has preferred the appeal on the following substantial question of law:-   "1. Whether on the facts and circumstances of the....

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.... in respect of same assessee for the assessment year 2005-06. The relevant findings are quoted as below:- "The revenue's conclusion that M/s K.S.M. Exports Ltd. was a paper Company, not being supported by any evidence except mistaken understanding of acts and non-verifications of assessee's claim is also not sustainable on facts. The evidence place on record amply affirms that M/s K.S.M. Export....