1997 (7) TMI 73

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....IT Act, 1961, for issuing a mandamus directing the Tribunal, Delhi Bench, New Delhi, to refer the following question of law, along with the statement of the case, to this Court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in confirming the order of the CIT(A) in cancelling the penalty of Rs. 60,812 imposed under s. 140A (3) of the ....

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....ssue relating to applicability of the provisions of s. 115E in favour of the assessees establishes the bona fides of the assessees in calculation of the tax payable under s. 140A." The order of penalty was in a way a consequential order passed by the Tribunal in view of the findings recorded by it in the quantum case. Accordingly, we are of the opinion that the question of law does arise fro....