ORDER

Revenue has come up in appeal for the assessment years 1998-99 and 1999-2000 assailing the combined order, dated 28-11-2005 passed by the learned C.I.T. (A), Zone-I, Lahore. It has been agitated by the department that the learned C.I.T. (A) was not justified in annulling the assessment order, dated 30-6-2005 without any cogent reason.2. The brief facts culminating in filing the instant appeal are that the assessee is a Private Limited Company deriving income from manufacturing and sale of wires and cables. Original assessment for the assessment years under consideration was finalized under section 62 of the repealed Income Tax Ordinance, 1979 (hereinafter called the repealed Ordinance) at net income of Rs,15,303,999 and Rs.12,549,420 respectively. Being aggrieved with the said assessment orders the assessee approached the learned first appellate authority who vide an order, dated 1-7-2003 set aside the case for de novo consideration with the observations given in the assessment orders....