2016 (3) TMI 1275

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....tanding Counsel. O R D E R 1. This is an appeal by the Revenue against the order dated 16th September, 2015, passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No.3508/Del/2013 for the Assessment Year 2005-2006. 2. The Assessee filed an original return on 30th October 2005, showing a loss of Rs. 87,19,500/-. A search and seizure operation was carried out in the business premises ....

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....l Chawla (2016) 380 ITR 573 (Del.). Following the said decision, the ITAT dismissed the Revenue's appeal and allowed the Assessee's cross-objections. 4. Mr. Dileep Shivpuri, learned Senior Standing Counsel for the Revenue, sought to distinguish the judgement in Commissioner of Income Tax (Central)-III v. Kabul Chawla (supra) on the ground that it did not consider a situation where the origi....