  LDN1415-IRS, a low-mass young stellar object (YSO) went into an outburst
between 2001 and 2006, illuminating a surrounding nebula, LDN1415-Neb.
LDN1415-Neb was found to have brightened by I=3.77 mag by April 2006. The
optical light curve covering $\sim$ 15.5 years, starting from October 2006 to
January 2022, is presented in this study. The initial optical spectrum
indicated the presence of winds in the system but the subsequent spectra have
no wind indicators. The declining light curve and the absence of the P-Cygni
profile in later epoch spectra indicate that the star and nebula system is
retrieving back from its outburst state. Two Herbig-Haro objects (HHOs) are
positioned linearly with respect to the optical brightness peak of the nebula,
probably indicating the circumstellar disk being viewed edge-on. Our recent
deep near-infrared (NIR) imaging using TANSPEC has revealed the presence of a
nearby star-like source, south of the LDN1415-IRS, at an angular distance of
$\sim$ 5.4 arcsec.
