PR. COMMISSIONER OF INCOME TAX (CENTRAL)-2 vs M/S K.R. PULP AND PAPERS LTD.

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 31.05.2025 + ITA No. 529/2023 PR. COMMISSIONER OF INCOME TAX (CENTRAL)-2 .....Appellant versus M/S K.R. PULP AND PAPERS LTD. .....Respondent Advocates who appeared in this case For the Appellant : Mr. Sanjay Kumar, Ms. Monica Benjamin and Ms. Easha Kadian, Advocates. For the Respondent : Mr. Gautam Jain and Mr. Manish Yadav, Advocates. CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MR. JUSTICE TEJAS KARIA JUDGMENT TEJAS KARIA, J 1. The Appellant [‗Revenue‘] has preferred the present appeal under Section 260A of the Income Tax Act, 1961 [‗the Act‘], inter alia, impugning an order dated 31.03.2022 [‗impugned order‘] passed by the learned Income Tax Appellate Tribunal [‗ITAT‘] in ITA No.5064/Del/2017 in respect of Assessment Year [‗AY‘] 2009-10. ITA No. 529/2023 Page 1 of 25 Signature Not Verified Signed By:NEELAM SHARMA Signing Date:03.06.2025 16:52:00 2. The Revenue had filed the aforementioned appeal against the order dated 22.05.2017 passed by the Commissioner of Income Tax (Appeals)-27, New Delhi [‗CIT(A)‘], whereby the Respondent‘s [‗Assessee‘] appeal against the Assessment Order dated 31.12.2016 passed by the Assessing Officer [‗AO‘] under Section 143(3) read with Section 147 of the Act, was allowed and the additions made by the AO under Section 68 of the Act were deleted. FACTUAL MATRIX 3. The Assessee is a public limited company and is engaged in the manufacturing of kraft paper and brown paper usually used for packaging. The Assessee filed its return of income on 26.09.2009 declaring an income of ₹1,95,97,146/- for the Financial Year [‗FY‘] 2008-09 relevant to AY 2009-10. 4. The Assessee‘s return was selected for scrutiny and notices under Sections 143(2) and 142(1) of the Act were issued raising