RAKESH KUMAR GARG, J. - (1.) THE assessee (sic - -Revenue) has filed the present appeal under s. 260A of the IT Act, 1961 (hereinafter referred to as 547/Del/2006 for the asst. yr. 1998 -99. consequent upon acquisition of land by the Land Acquisition Officer, HUDA, Gurgaon.
(2.) THE assessment for the asst. yr. the returned income of Rs. 1,70,640.
(3.) AGGRIEVED against the assessment order, assessee preferred an appeal before the Commissioner of Income -tax confirmed the additions made in the assessment order. Given an opportunity to show cause as to why penalty under s. 271(1)(c) of the Act should not be imposed. The counsel for the assessee by writing a letter requested that penalty proceedings under s. 271(1)(c) of the Act be stayed till the decision of the Income -tax Appellate Tribunal, Delhi (hereinafter referred to as the 'Tribunal') in his appeal filed against the order of the CIT(A).;