Deputy Commissioner of Income Tax Central Circle – 16, New Delhi Vs. Vinod Deshmukh

Parties Involved

Facts Summary

This appeal filed by the revenue is directed against the order dated 15.02.2024 passed by CIT(A)-26, Delhi pertaining to A.Y. 2017-18. The only issue arising in the present appeal of the Revenue is regarding the action of Ld. CIT(A) in restricting the addition made by the AO of Rs. 4.42 crores to Rs. 2.2 crores. The Ld. DR submitted that LD. CIT(A) accorded relief to the assessee without appreciating the facts that in the enquiries conducted by the Enforcement Directorate under PMLA Act, assesses offence most clearly discernible. The Ld. Council for the assessee argued in the favour of the order of the Ld. CIT(A).…

Legal Issues

• 1. Whether the addition made by the AO of Rs. 4.42 crores should be restricted to Rs. 2.2 crores as per the order of the Ld. CIT(A).

Judgment Outcome

Decided in favour of Assessee.

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