JUDGMENT

Navin Chawla, J. (Oral)--This appeal has been heard by way of video conferencing.

2. This appeal has been filed challenging the order dated 31.07.2019 passed by the learned Income Tax Appellate Tribunal (hereinafter referred to as the `ITAT') in ITA No. 4938/Del/2012.

3. The dispute originates from the return of income filed by the respondent under Section 139 (1) of the INCOME TAX ACT , 1961 (hereinafter referred to as the `Act') for the assessment year 2004-05 on 11.01.2004. The said return was selected for scrutiny and a notice under Section 143 (2) of the Act was issued by the Assessing Officer to the respondent on 21.11.2005. The same resulted in Assessment Order dated 29.12.2006 making an addition of Rs.96,36,129/- to the taxable income of the respondent after calculating depreciation (Rs.9,08,897/-) and adjusting the brought forward losses of previous assessment year under Section 72 of the Act (Rs.76,80,953/-), the income of the respondent was assessed at Rs.10,46,779/-. The respondent challenged the Assessment Order before the Commissioner of Income Tax (Appeals)-XII. The Commissioner of Income Tax (Appeals)-XII was pleased to allow the appeal vide order dated 30