COMMISSIONER OF INCOME TAX Vs. LAKHANI FOOTWEAR LTD

JUDGEMENT

(1.) This appeal has been preferred by the Revenue under section 260A of the Income-tax Act, 1961 (in short "the Act"), against the order dated March 27, 2009, passed by the Income-tax Appellate Tribunal, Delhi Bench "D", New Delhi (hereinafter referred to as "the Tribunal"), in I.T.A. No. 1059/Del/2008, relating to the assessment year 1993-94, claiming the following substantial questions of law :

(2.) We have heard learned counsel for the parties.

(3.) The issue that arises for consideration in this appeal is whether the Tribunal was right in deleting the penalty levied under section 271(1) (c) of the Act.