ITA No.4516/Del/2024

Parties Involved

Facts Summary

This appeal was filed by the Revenue against the order of the Ld. CIT(A)-23, Delhi dated 27/07/2024 for Assessment Year 2018-19. The Revenue challenged the order on several grounds, including the deletion of additions made under sections 56(1), 69A, and 69C of the Act. The assessee, Ashok Kumar Tyagi, did not respond to multiple summons issued under section 131 of the Act and did not provide evidence to prove the genuineness of his claims. Documents found during a search indicated cash payments made by the assessee, raising concerns about the nature of his business and the source of his income.…

Legal Issues

• 1. Deletion of addition of Rs. 34,00,360/- made under section 56(1) of the Act.
• 2. Deletion of protective addition of Rs. 5,00,000/- made under section 69A of the Act.
• 3. Deletion of protective addition of Rs. 71,67,000/- made under section 69C of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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