2012 (9) TMI 586

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....artment. 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 case, the ITAT was justified in dismissi....

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....ment 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. Exports Ltd. was having as much as 543 workers on i....