JUDGMENT

Bhan, J.—We propose to dispose of these appeals as has been done by the High Court, by a common order, as the point involved in all these appeals is the same.

2. Facts are taken from Civil Appeal No. 7115 of 2005.

Commissioner of Income Tax, Delhi-I, the respondent herein, filed ITA No. 340 of 2004 in the High Court of Delhi against the order passed by the Income Tax Appellate Tribunal (for short “the Tribunal”) under Section 260A of the Income Tax Act. Assessee also filed ITA No....... of 2004 being aggrieved against a part of the order of the Tribunal. High Court allowed the ITA No. 340 of 2004 filed by the Revenue and held that the Tribunal was not right in deleting the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961 (for short “the Act”) merely on the ground that the total income of the assessee was assessed at a minus figure/loss. Tribunal had allowed the assessee’s appeal remitting the penalty imposed by the assessing officer under Section 271(1)(c) relating to the assessment year 1996-97, relying upon the decision of the Punjab High Court in CIT v. Prithipal Singh & Co., 183 ITR 69, which was affirmed by this Court in CIT v. Prithipal Singh & Co.