COMMISSIONER OF INCOME TAX Vs. JAYANTILAL MEGHANI

JUDGEMENT

(1.) On an application under Section 256(1) of the Income-tax Act, 1961, the Tribunal has referred the following question set out at page 3 of the application for our opinion :

(2.) Heard learned counsel for the Revenue. None appeared for the assessee, though the matter was listed 4/5 times.

(3.) The facts are not in dispute that the addition was sustained in the quantum appeal. The penalty has been deleted on the ground that in the order of penalty, the amount of penalty has not been quantified.