COMMISSIONER OF INCOME-TAX Vs. M.S. AGGARWAL

JUDGEMENT

(1.) FOR the reasons stated in the application and on submissions made by the learned Counsel for the appellant, this application for condonation of delay is allowed. The delay is condoned. This application stands disposed of.

(2.) THIS appeal pertains to the block assessment period April 1, 1989, to January 15, 2000, and is directed against the order dated January 5, 2007, passed by the Income -tax Appellate Tribunal.

(3.) THE second point on which the Tribunal agreed with the assessee as well as the conclusion arrived at by the Commissioner of Income -tax (Appeals) was that the issue with regard to the levy of surcharge was debatable when the Assessing Officer passed his order on June 11, 2003, under Section 154 of the said Act. Therefore, the Tribunal concluded that the rectification proceedings were not in order and consequently, dismissed the appeal preferred by the Revenue.