2009 (8) TMI 87

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....ADARSH KUMAR GOEL J. - The revenue has preferred this appeal under Section 260A of the Income-Tax Act, 1961 ( for short, "the Act") against the order dated 15.4.2004 passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar, for the assessment year 1995-96, proposing to raise the following substantial question of law: "Whether on the facts and in the circumstances of the case, the ITA....

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....of penalty was deleted by the CIT(A), which view has been upheld by the Tribunal following the judgment of this Court in CIT v. Prithipal Singh & CO. 183 ITR 69 which stood affirmed by the Hon'ble Supreme Court in CIT v. Prithipal Singh & Co. [2001]249 ITR 670 (SC).         3. It is not disputed that the view taken in Prithipal Singh case (supra) has since....

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....rected that issue of waiver be considered by the CBDT having regard to the financial position of the assessee. On 20.8.2009, we noted that no information was available about the decision, if any, taken by the CBDT. Learned counsel for assessee was also unable to state whether material was placed before the Board about financial status. 7. Learned counsel for the assessee now states that necessary....