CIT Vs. REGENCY PARK PROPERTY MANAGEMENT SERVICES PVT LTD

JUDGEMENT

(1.) The present appeal by the Revenue under Section 260A of the Income Tax Act, 1961 (Act, for short) impugns the order dated 1st January, 2010 passed by the Income Tax Appellate Tribunal (Tribunal, for short) in ITA No. 2812/Del/2008 and relates to assessment year 2005-06.

(2.) The impugned order passed by the tribunal allows the appeal filed by the respondent-assessee and quashes/set asides the order dated 1st July, 2008 passed by the Commissioner of Income Tax (CIT, for short) under Section 263 of the Act. Having heard learned counsel for the parties, we frame the following substantial question of law:

(3.) We have heard learned counsel for the parties and proceed with our decision.