JUDGMENT

1. This Appeal under Section 260A of the Income Tax Act, 1961 ("The Act" for short), challenges the order dated 6 August 2014 passed by the Income Tax Appellate Tribunal ("The Tribunal" for short). The impugned order dated 6 August 2014 is in respect of Assessment Year 2004-05.

2. Mr. Chhotaray, the learned Counsel for the Revenue, urges only the following question of law for our consideration:-

Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in quashing the reopening of the assessment particularly when the assessment was reopened within a period of four years from the end of the assessment year?

3. Mr. Mody, the learned counsel appearing for the Respondent at the very outset point that the issue raised herein namely can a reopening be issued notice by the Assessing Officer on the very ground which he had opposed in response to the query from the Audit is no longer res integra. It is submitted that this issue stands concluded in favour of the Respondent Assessee by the decisions of this Court in IL & FS Investment Managers Ltd. V/s. Income Tax Officer , (2008) 298 ITR 32 and The Commissioner of Income Tax Vs. M/s. Reliance I