- (1.) In this appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the said Act) the Principal Commissioner of Income Tax (hereinafter referred to as the Revenue) has challenged the judgment and order dated April 30, 2015 passed by the Income Tax Appellate Tribunal, "C" Bench, Kolkata (the Tribunal, in short, hereafter) in I.T.A No. 1038/KOL/2008 for the assessment year 2004-05.
(2.) The matter relates to Section 10B of the said Act as has been substituted by the Finance Act, 2000 with effect from April 1, 2001.
(3.) The assessee filed its return on October 18, 2004 disclosing a total income "Nil". The return was selected for scrutiny by the Revenue and notices under Sections 143(2) and 142(1) were issued. In compliance with the said notices, the assessee appeared before the Assessing Officer (AO, in short, hereafter) and the hearing was held on different dates and the assessee filed the requisite details.;