PANKAJ MITHAL, J. - (1.) Heard Sri Manu Ghildyal, learned counsel for the appellant and Sri Prakash, Kumar, Sri Bhupendra Kumar Agarwal, Rishi Raj Kapoor for the respondents.
(2.) The revenue has preferred this appeal against the order of the Income Tax Appellate Tribunal dated 10.12.2015 whereunder the proceedings initiated against the respondent-assessee under Section 147 of the Income Tax Act, 1961 have been held to be illegal.
(3.) The matter relates to the assessment year 2005-06. After the order of assessment was passed a notice under Section 148 of the Act was issued on 27.03.2012 for initiating proceedings for re-assessment under Section 147 of the Act.;