- (1.) WE have heard Shri Dhananjai Awasthi, learned counsel appearing for the department. Shri Ashish Bansal appears for the assessee -company.
(2.) THESE Income Tax Appeals filed by the Commissioner of Income Tax -I, Agra arise out of a common judgment and order of Income Tax Appellate Tribunal, Agra Bench, Agra dated 30.5.2008 in ITA Nos. 307, 308, 309 & 310/Agr/2007 relating to assessment years 1997 -98, 1998 -99, 1999 -2000 and 2001 -02. The department has raised following two questions of law for consideration of this Court: - "(1) Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in holding that the action u/s 147 of IT Act, 1961 by issuance of notices u/s 148 of the Act on the basis of DVO's report is invalid, illegal and void ab -initio and that the jurisdiction assumed u/s 148 of IT Act, 1961 is therefore illegal and invalid? (2) Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in deleting the addition u/s 69 of the IT Act, 1961 simply following its order in the A/Y 2001 -02 which has not been accepted by the department and an appeal u/s 260 -A of the Act has been filed before Hon'ble High Court and the matter is sub -judice?"
(3.) WE have gone through the orders of AO, CIT and ITAT made after reopening the assessment under Section 147 of the Act. The ITAT, allowed the appeals setting aside the orders, based on reports of D.V.O.;