Subodh Agarwal v. Dy. Commissioner of Income Tax

Parties Involved

Facts Summary

The case involves appeals by the assessee, Subodh Agarwal, against orders passed by the Commissioner of Income Tax (Appeals) for assessment years 2013-14 and 2016-17. The assessee had filed returns showing income of Rs.12,78,090/- for 2013-14. The Assessing Officer completed the assessment at Rs.32,08,950/- by making additions on account of Long/Short Term Capital Gain, commission on capital gains, and difference in Valuation Report of the District Valuation Officer on immovable property. The assessee challenged the dismissal of his appeal by the Commissioner of Income Tax (Appeals) on various grounds, including denial of exemption under section 10(38) of the Income Tax Act, 1961, and the addition of undisclosed income under section 69 of the Act. The assessee also raised an additional ground regarding the approval under section 153D of the Act, which was granted in a mechanical manner without appreciating the facts.…

Legal Issues

• 1. Denial of exemption under section 10(38) of the Income Tax Act, 1961.
• 2. Addition of undisclosed income under section 69 of the Act.

Judgment Outcome

Decided in favour of Assessee.

Similar Judgements

• Om Prakash Agarwal vs. ITO, Ward 2, Makrana

  Jodhpur bench

• Yasmin Kapoor & Deepa Talwar vs. ACIT, Central Circle-19, Delhi

  Delhi Bench benchAY 2016-17, 2017-18Allowed

• Yash Tuteja vs. DCIT, Central Circle-08, New Delhi

  Delhi Bench benchAY 2011-12, 2018-19 and 2020-21Allowed

• Surendra Garg, HUF vs Income Tax Officer 19(3)(4), Mumbai

• ITA Nos. 463 to 465, 467, 523 & 524, 457/Del/2022

  B Bench, Delhi benchAY 2012-13 to 2016-17Allowed

• Gaurav Kathuria vs ACIT

  Delhi Bench ‘B’, New Delhi benchAY 2018-19Allowed