COMMISSIONER OF INCOME TAX Vs. SH SHRI CHAND

JUDGEMENT

(1.) This appeal has been preferred by the Assessee under Section 260A of the Income Tax Act, 1961 (for short, "the Act") against the order dated 15.12.2009 of the Income Tax Appellate Tribunal, New Delhi in I.T.A. No. 3949/Del/2009 for the assessment year 1997-98 proposing to raise following substantial questions of law:

(2.) Whether, on the facts and in the circumstances of the case, Ld. ITAT was right in deleting the penalty order and simultaneously by issuing directions that in case the quantum addition is modified or set aside or altered by the higher appellate authority, the Department shall be at a liberty to move an application to consider the matter afresh on merit in the light of the final outcome of the quantum matter without giving specific direction to the Assessing Officer to re-examine the penalty in case the quantum order is restored

(3.) In view of above, this appeal is dismissed.