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Income Tax Appellate Tribunal, DELHI BENCHES : F : NEW DELHI
Before: SHRI H.S. SIDHU & SHRI L.P. SAHU
advance. Copy of the assessment order passed in the case of ISPPL is placed in paper book at pages 64-67, but could not provide an opportunity to explain by issuing any show cause notice as to why such addition should not be made in the hands of the assessee. In view of above, we remit back the issue no. 1 to the file of the AO with the directions to give proper opportunity to the assessee to substantiate its claim, after considering all the documents to be filed by it including the agreement dated 30.4.2012 executed between assessee company and M/s Indian Steel & Power Pvt. Ltd. and decide the issue in dispute afresh, as per law. Since the issue on the merit is set aside to the file of the AO for fresh consideration, as aforesaid, the other issue raised vide ground no. 2 need not be adjudicated.
In the result, the Appeal filed by the Assessee stands partly allowed for statistical purposes.