COMMISSIONER OF INCOME TAX Vs. HUKUM CHAND AGARWAL

JUDGEMENT

(1.) BOTH the appeals have been filed by the department under Section 260 -A of the Income Tax Act, against the judgment and orders dated 26.09.2008 passed by the Income Tax Appellate Tribunal, Lucknow in I.T.Nos.1067/Luc/2006; and 289/Luc/2008 pertaining to the penalty under Section 271 (1)(c). Thus, both appeals are pertaining to the quantum and penalty respectively.

(2.) ON 23.03.2009, a co -ordinate Bench of this Court has admitted the quantum appeal on the following substantial questions of law: -

(3.) WITH this background, we have heard Sri D.D.Chopra, learned counsel for the department and Sri K.R.Rastogi holding brief of Sri S.K.Garg, learned counsel for the assessee and gone through the material available on record. From the record, it appears that in the year 2008, the Tribunal has remanded the matter back to the A.O., as the fresh evidence was admitted by the Tribunal.