PR. COMMISSIONER OF INCOME TAX (CENTRAL)-2 vs. M/S K.R. PULP AND PAPERS LTD.

The challenge in the appeal is laid to the order dated 11.01.2022 passed by the Income Tax Appellate Tribunal [in short, “Tribunal”]. 8. Concededly, the Tribunal has ruled in favour of the respondent/assessee. The main plank of the Tribunal‟s decision rests on the fact, that no incriminating material was found vis-à-vis the respondent/assessee. This reasoning has been supported by the Tribunal, based on the ratio of the judgments rendered in Commissioner of Income- Tax (Central)-III v. Kabul Chawla [2016] 380 ITR 573 (Delhi) and CIT v. Meeta Gutgutia 395 ITR 526. 9. Mr Sanjay Kumar, learned senior standing counsel, who appears on behalf of the appellant/revenue, says that in another matter concerning the same issue, a Special Leave Petition (SLP), vide Diary No. 37848/2015 has been filed, which is pending consideration. 10. Given the stand taken by Mr Kumar, presently, the instant appeal is closed. In case the appellant/revenue were to succeed in the said matter, it will have liberty to approach the Court, with an appropriate application, to revive the appeal. As and when an application is moved, the appeal will be dealt with, by the concerned bench. 11. The Registry will dispatch a copy of the order passed today to the respondent/assessee, at the address given in the appeal via all modes, including e-mail.